~/budget-fr/deficit general government deficit · realised and targets
France's public deficit, made clear
The public deficit is the annual flow: the gap between what all of general government spends and what it takes in over one year. It stands at 5.8% of GDP in 2024 (€168.6bn) and 5.1% in 2025, nearly double the 3% reference threshold. France has been under the excessive-deficit procedure since July 2024, with a target to return below 3% in 2029. In 2024, most of the deficit comes from central government.
Realised
5.8% GDP
public deficit 2024 (€168.6bn)
Provisional
5.1% GDP
public deficit 2025 (latest realised)
2024
EU excessive-deficit procedure opened in July
Projection
2029
target to bring the deficit below 3% of GDP
General government deficit (% of GDP)
RealisedProvisionalProjection
INSEE (March 2026, base 2020). * target / projection.
Who carries the 2024 deficit (€bn)
INSEE, Insee Première no. 2054. Total: −€168.6bn.
Deficit 2024, European comparison (% of GDP)
Franceeuro areaneighbours
Eurostat, notification of 21 October 2025.
Key takeaway
The deficit eases slightly in 2025 but stays around 5%, far from the treaty's 3%; central government carries about 91% of it.