French budget deficit continues to balloon

PARIS, Dec 6 (AFP) – France’s central state budget deficit totalled EUR 53.6bn in the first 10 months of the year, compared with a deficit of EUR 51bn for the same period a year earlier, the finance ministry said Tuesday.

The increase owed in large part to “a temporary worsening of special treasury accounts”, the ministry said, echoing an explanation given in September.

Revenue rose to EUR 199.9bn euros from EUR 197.2bn a year earlier, while general budget spending rose to EUR 248.9bn from EUR 245.6bn.

Treasury operations produced a deficit of EUR 4.6bn, against a deficit of EUR 2.6bn a year earlier.

In France, the central government budget is significantly smaller than the public budget as defined under the EU Maastricht Treaty, covering central government, social security and local authority budgets.

Subject: French news