2026.01.1308:44:03UTC+00France Budget Deficit Narrows in November

France's central government budget deficit decreased to EUR 155.4 billion by the end of November 2025, down from EUR 172.5 billion in the same period the previous year. This improvement is attributed to a 6.3% year-on-year increase in government revenues, reaching EUR 331.8 billion. This rise was bolstered by higher collections from net income tax, corporate tax, and other net tax receipts. Additionally, non-tax revenues rose by 3%, due to increased income from dividends, administrative fines, and treasury withdrawals, although EU contributions linked to the co-financing of the National Recovery and Resilience Plan declined. On the expenditure side, total expenditures increased by 1.4% to EUR 468.7 billion. This was primarily because of temporary debt service expenses, heightened spending on energy services and military operations, and larger transfers to local authorities and the EU. These were partially counterbalanced by a reduction in payments to public operators and the conclusion of the Covid-19 debt amortization program. Special Treasury accounts recorded a deficit of EUR 18.5 billion, an improvement from the EUR 22.5 billion deficit recorded in November 2024.