Fiscal Balance in France
France - Fiscal Balance
Government announces largest fiscal adjustment in 30 years
On 28 September, the government presented its budget for the year 2013, in which it aims at cutting the fiscal deficit to 3.0% of GDP in 2013 from the 4.5% of GDP shortfall expected for this year. The government plans to narrow the fiscal gap to 0.3% of GDP by 2017. According to the text, the government projects an optimistic 0.8% GDP expansion for next year (Consensus Forecast: +0.5%). The draft foresees an adjustment of over EUR 30 billion, the largest in three decades, based on tax hikes and spending cuts. Only a third of the adjustment will come from spending cuts, the remaining two thirds based on additional revenues through higher taxes. The President Hollande's Socialist government plans steep tax increases for the top 11% of earners, temporarily lifting the levy up to 75% on incomes above EUR 1 million. These measures come on top of the previous tax increases announced in July. Meanwhile, the other EUR 11 billion in spending cuts include a reduction in operating costs and slashing investment.
France - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-4.1||-3.9||-3.6||-3.4||-2.6|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.11||0.46 %||Mar 11|
|Exchange Rate||1.12||0.65 %||Mar 11|
|Stock Market||5,266||-0.29 %||Mar 11|
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
February 26, 2019
Consumer confidence continued its recovery in February, according to the consumer confidence survey published by the National Institute of Statistics and Economic Studies (INSEE), which climbed 3 points from January to land at 95 points.
February 25, 2019
In February, the National Institute of Statistics and Economic Studies’ (INSEE) business-climate indicator for the manufacturing sector was stable from a month earlier at 113 points.
February 21, 2019
On 21 February, the Statistical Institute (INSEE) reported that consumer prices fell 0.4% from a month earlier in January (December: +0.0% month-on-month).
February 8, 2019
In seasonally-adjusted terms, industrial output expanded 0.8% in December, contrasting a revised 1.5% month-on-month contraction in November (previously reported: -1.3% month-on-month s.a.).
February 5, 2019
In January, the seasonally-adjusted IHS Markit Composite Purchasing Managers’ Index (PMI) fell to 48.2 from 48.7 a month earlier, landing below the 50.0-point threshold and signaling a contraction in private-sector activity. January’s reading reflected weaker services-sector activity, although it was unclear whether these disruptions were brought on by the ‘gilets jaunes’ protests.