France: public finances

What is France's budget deficit?

France's public deficit was €152.5 billion in 2025, or 5.1% of GDP, down from €169.1 billion (5.8% of GDP) in 2024, according to INSEE's general government account for 2025 (Insee Première No. 2106, 29 May 2026). The state accounted for most of it, with a deficit of €128.1 billion, while local authorities had a deficit of €15.6 billion.

The deficit is measured under the Maastricht Treaty rules used by the EU, which set a 3% reference value. It covers the state, local authorities and social security bodies together. INSEE attributes the reduction mainly to strong growth in revenue, including new tax measures.

Official sources: INSEE: general government account in 2025

How much does the French state spend?

Public spending in France was 57.3% of GDP in 2025, or €1,714.2 billion, according to INSEE's general government account for 2025. Spending rose 2.5% in 2025, after 4.0% in 2024. Social benefits in cash and in kind, such as pensions, unemployment benefits and health reimbursements, were the largest item at €771.0 billion. Revenue was 52.2% of GDP.

The total covers central government, local authorities and social security funds, with transfers between them removed. INSEE attributes the slower growth in part to lower inflation: consumer prices rose 0.9% on average in 2025. The ratio was 55.2% in 2019.

Official sources: INSEE: general government account in 2025

How high are taxes in France as a share of GDP?

Compulsory levies, meaning taxes and social contributions, were 43.6% of GDP in France in 2025, 0.9 points higher than in 2024, according to INSEE's general government account for 2025. The rate is calculated net of tax credits. Public revenue overall rose 3.9%, against 2.0% growth in GDP in current euros.

INSEE says the increase reflects new measures as well as spontaneous growth in revenue, particularly from income tax. The tax-to-GDP ratio was 45.0% in 2022.

Official sources: INSEE: general government account in 2025

How much does France pay in interest on its debt?

French general government paid €64.7 billion in interest in 2025, 11.2% more than in 2024, according to INSEE's general government account for 2025. Central government accounted for €53.3 billion, up 14.3%. Public debt reached 115.7% of GDP at the end of 2025.

Interest charges rise as older debt issued at low rates is refinanced at higher rates and as total debt grows. INSEE's quarterly debt release shows debt at 119.0% of GDP at the end of the second quarter of 2026.

Official sources: INSEE: general government account in 2025

Is France's social security in deficit?

France's social security administrations moved into deficit in 2025, with a balance of -€6.7 billion, a deterioration of €7.9 billion on 2024, according to INSEE's general government account for 2025. Social security bodies spent €803.3 billion in 2025, 3.3% more than in 2024, most of it on benefits such as pensions and health care.

The INSEE figure covers all social security administrations in the national accounts, including pension and unemployment insurance schemes, so it differs from the deficit of the general social security scheme presented in the annual social security financing law, which is debated in Parliament each autumn.

Official sources: INSEE: general government account in 2025

What is France's national debt?

115.5% of GDP: that is general government gross debt in France for 2025, according to the IMF. That is the highest since at least 2005. It is 3rd highest of 51 in Europe & Central Asia, where the median is 46.9% of GDP. Worldwide: 12th of 185.

What is France's budget deficit?

The IMF puts general government net lending or borrowing in France at -5.1% of GDP in 2025 (a deficit). Its high point since 2005 was 2018, at -2.3% of GDP; its low point was 2020, at -8.9% of GDP. Europe & Central Asia median: -2.4% of GDP; France is 46th highest of 51. World rank, highest first: 146th of 188.

What is France's government revenue?

In 2025, general government revenue in France was 52.2% of GDP, according to the IMF. Since 2005 it has ranged from 50.6% of GDP (2010) to 54.3% of GDP (2017). Across Europe & Central Asia the middle value was 41.3% of GDP, and France placed 4th highest of 50. Worldwide: 14th of 187.

How much does France's government spend?

According to the IMF, general government spending in France was 57.2% of GDP in 2025. Since 2005 it has ranged from 53.6% of GDP (2007) to 61.7% of GDP (2020). Europe & Central Asia median: 43.3% of GDP; France is 3rd highest of 50. World rank, highest first: 11th of 186.

How much tax does France collect?

22.8% of GDP: that is central government tax revenue in France for 2024, according to the IMF. Since 2005 it has ranged from 20.7% of GDP (2009) to 24.8% of GDP (2020). It is 14th highest of 42 in Europe & Central Asia, where the median is 20.8% of GDP. World rank, highest first: 22nd of 92.

What is France's defence spending?

SIPRI puts military spending in France at 2.0% of GDP in 2025. The peak was 2.1% of GDP in 2009 and the low 1.8% of GDP in 2018. Across Europe & Central Asia the middle value was 2.0% of GDP, and France placed 25th highest of 46. Worldwide: 58th of 149.