France’s state budget deficit narrowed to EUR 32.1 billion in January–February 2026 from EUR 40.3 billion in the same period last year, amid higher revenues and lower spending. Total revenues increased by 16.0% year-on-year to EUR 52.5 billion, driven by increased VAT receipts and a sharp rise in non-tax revenues. Net tax revenues totaled EUR 43.5 billion, reflecting a higher State share of net VAT and other net tax revenues. Meanwhile, total expenditures fell by 1.3% to EUR 76.8 billion, primarily due to reduced general budget outlays amid delays in certain payments for intervention expenditures carried out by the social ministries. Special Treasury accounts posted a deficit of EUR 7.8 billion, largely unchanged from EUR 7.7 billion in the previous year. source: Ministere de l'Économie, des Finances, de l'Action et des Comptes publics, France

France recorded a government budget deficit of 32.10 EUR Billion in February of 2026. Government Budget Value in France averaged -62.25 EUR Billion from 1994 until 2026, reaching an all time high of -4.21 EUR Billion in January of 2000 and a record low of -197.97 EUR Billion in November of 2023. This page provides the latest reported value for - France Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Government Budget Value - data, historical chart, forecasts and calendar of releases - was last updated on April of 2026.

France recorded a government budget deficit of 32.10 EUR Billion in February of 2026. Government Budget Value in France is expected to be -88.00 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Government Budget Value is projected to trend around -143.00 EUR Billion in 2027 and -141.00 EUR Billion in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-03 07:45 AM
Budget Balance
Jan €-9.7B €-124.7B €-16.9B
2026-04-02 06:45 AM
Budget Balance
Feb €-32.1B €-9.7B €-32.0B
2026-05-05 06:45 AM
Budget Balance
Mar €-32.1B € -36B


Related Last Previous Unit Reference
Asylum Applications 7900.00 9290.00 persons Feb 2026
Credit Rating 83.00 Mar 2026
Fiscal Expenditure 76.79 39.58 EUR Billion Feb 2026
Government Budget -5.80 -5.40 percent of GDP Dec 2024
Budget Balance -32.10 -9.70 EUR Billion Feb 2026
Government Debt 3460.50 3484.10 EUR Billion Dec 2025
Government Debt to GDP 115.60 112.60 percent of GDP Dec 2025
Government Revenues 52.48 36.34 EUR Billion Feb 2026
Government Spending 169203.00 168862.00 EUR Million Dec 2025
Government Spending to GDP 57.30 56.90 percent of GDP Dec 2024
Holidays
Military Expenditure 64675.00 59492.00 USD Million Dec 2024


France Government Budget Value
The government budget balance is the difference between government revenues and expenses, including the treasure special component. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.
Actual Previous Highest Lowest Dates Unit Frequency
-32.10 -9.70 -4.21 -197.97 1994 - 2026 EUR Billion Monthly
Current Prices, NSA

News Stream
France Budget Deficit Narrows in January-February
France’s state budget deficit narrowed to EUR 32.1 billion in January–February 2026 from EUR 40.3 billion in the same period last year, amid higher revenues and lower spending. Total revenues increased by 16.0% year-on-year to EUR 52.5 billion, driven by increased VAT receipts and a sharp rise in non-tax revenues. Net tax revenues totaled EUR 43.5 billion, reflecting a higher State share of net VAT and other net tax revenues. Meanwhile, total expenditures fell by 1.3% to EUR 76.8 billion, primarily due to reduced general budget outlays amid delays in certain payments for intervention expenditures carried out by the social ministries. Special Treasury accounts posted a deficit of EUR 7.8 billion, largely unchanged from EUR 7.7 billion in the previous year.
2026-04-02
France Budget Deficit Narrows in January
France’s state budget deficit narrowed to EUR 9.7 billion at the end of January 2026, compared with EUR 17.3 billion a year earlier. Total revenues rose sharply by 49.4 year-on-year to EUR 36.3 billion, supported by stronger VAT receipts and a significant increase in non-tax revenues, notably the reimbursement of unused endowments under past investment programs. Net tax revenues increased to EUR 28.7 billion, although income tax and corporate tax collections declined annually. Meanwhile, total expenditure rose by 4.6% to EUR 39.6 billion, driven by higher defense spending, increased investment outlays, and larger transfers to the European Union, partly offset by slightly lower operating costs and debt servicing expenses. Special Treasury accounts recorded a deficit of EUR 6.5 billion, widening from EUR 3.8 billion a year earlier, largely due to timing effects related to VAT transfers to local authorities.
2026-03-03
France Budget Deficit Narrows in 2025
France’s central government budget deficit narrowed to EUR 124.7 billion in the January-December period of 2025, down from EUR 156.3 billion a year earlier. Government revenues rose 8.6% year-on-year to EUR 387.7 billion, supported by higher net income tax, corporate tax, VAT, and other net tax receipts. Non-tax revenues increased by 3.4%, reflecting higher dividend receipts, administrative fines, and other miscellaneous receipts, despite lower EU contributions linked to the co-financing of the National Recovery and Resilience Plan. Meanwhile, total expenditures slightly declined by 0.2% to EUR 510.2 billion, driven by higher debt service costs, increased spending on energy services and military operations, and higher transfers to local authorities and the EU, partly offset by reduced payments to public operators and the removal of the Covid-19 debt amortization program. Special Treasury accounts posted a EUR 2.3 billion deficit, improving from EUR 2.4 billion in December 2024.
2026-02-03