(News Bulletin 247) – The French state budget deficit widened at the end of July, due to both an increase in public spending and a contraction in revenue.
The general execution balance thus stood at -169 billion euros at the end of July, against -131.2 billion a year earlier, according to data published Friday by the Ministry in charge of public accounts.
As of July 31, general budget expenditure reached 277.2 billion euros compared to 264.2 billion at the end of July 2022, an increase of 13 billion.
Bercy explains this increase by a larger payment compared to 2022 to the public debt fund (CDP) for the amortization of the State’s Covid debt.
The government also mentions the disbursements made under the household support measures for the effect of the rise in interest rates on the repayment of the debt.
Revenues stand at 174.7 billion euros against 192.5 billion a year earlier, due to a reduction in VAT due to the State due to additional transfers to municipalities, intermunicipalities and departments and a reduction in corporation tax.
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