Thursday, 20 January, 2022

The public deficit was better than expected in 2019 before the great upheaval of the coronavirus


The public deficit finally stood at 3% of GDP in 2019 in France, while Bercy expected 3.1%. These data published this Wednesday make it possible to have an inventory of the public accounts before the great upheaval which is announced. The debt has been stabilized.

The tax cuts promulgated by Bercy lowered the tax burden from 44.8% of GDP in 2018 to 44.1% of GDP in 2019.

It was the time when people were still worried about respecting the rules of the Stability Pact. The public deficit finally stood at 3% of GDP in 2019, according to statistics released by INSEE on Wednesday. Better still, without the temporary impact of the shift in the tax credit for competitiveness and employment (CICE) down perennial charges, the balance is even reduced to 2.1% of GDP. As a reminder, the deficit represented 2.3% of GDP in 2018.

The public deficit finally stood at 3% of GDP in 2019 in France, while Bercy expected 3.1%. These data published this Wednesday make it possible to have an inventory of the public accounts before the great upheaval which is announced. The debt has been stabilized.

The tax cuts promulgated by Bercy lowered the tax burden from 44.8% of GDP in 2018 to 44.1% of GDP in 2019.

It was the time when people were still worried about respecting the rules of the Stability Pact. The public deficit finally stood at 3% of GDP in 2019, according to statistics released by INSEE on Wednesday. Better still, without the temporary impact of the shift in the tax credit for competitiveness and employment (CICE) down perennial charges, the balance is even reduced to 2.1% of GDP. As a reminder, the deficit represented 2.3% of GDP in 2018.