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02.04.202607:33:24UTC+00France Budget Deficit Narrows in January-February

France’s central government budget deficit narrowed to EUR 32.1 billion in January–February 2026, down from EUR 40.3 billion a year earlier, supported by stronger revenues and lower spending. Total revenues rose 16.0% year-on-year to EUR 52.5 billion, boosted by higher VAT receipts and a marked increase in non-tax revenues. Net tax revenues reached EUR 43.5 billion, reflecting a higher State share of net VAT and other net tax income. On the expenditure side, total spending declined by 1.3% to EUR 76.8 billion, mainly due to lower general budget outlays linked to delays in certain intervention payments by social ministries. Special Treasury accounts registered a deficit of EUR 7.8 billion, broadly stable compared with EUR 7.7 billion in the same period of the previous year.

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