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Unemployment insurance, work stoppages… What are the government’s options when faced with a debt burden?

Unemployment insurance, work stoppages… What are the government’s options when faced with a debt burden?

Unemployment insurance, work stoppages… What are the government’s options when faced with a debt burden?

A big stone in the government’s shoe. On Tuesday morning, INSEE released France’s 2023 government deficit at 5.5%, well above the 4.9% expected. A €154 billion hole between budget expenditures and revenues, which further increases the debt, now standing at €3,101.2 billion (110.6% of GDP).

The institute attributes the lag to a “clear slowdown” in revenues, linked in part to sluggish economic activity and therefore lower tax revenues. Hence growth of just 2% last year compared to 7.4% in 2022. “This is 21 billion euros less than in 2023,” said Economy Minister Bruno Le Maire, speaking to the press along with Thomas Cazenave, Economy Minister. Minister of Public Accounts.

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Source: Le Parisien

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