The "hole" in Social Security widened last year, to 1.9 billion euros against 1.2 billion in 2018, but "this deterioration is much less severe than expected," according to the government.
The last Social Security budget, voted in December, indeed forecast a loss of 5.4 billion euros for 2019, recalls the Directorate of Social Security in a statement published on its website.
The “good performance” of the job
The government, which had initially announced a return to historic financial equilibrium, had revised its copy in the fall because of the Yellow Vests crisis, but also of overly optimistic economic and demographic forecasts.
In the end, the economic situation was not so bad for the Social Security, which received 2.3 billion euros more than expected, thanks in particular to the “good performance” of employment in the private sector , as well as levies on capital income, the self-employed and farmers.
Expenses: "The dynamics have been mastered"
On the expenditure side, "the dynamics have been brought under control", in particular for the illness branch, whose objective "has been respected for the tenth consecutive year".
This does not prevent its deficit from doubling to 1.5 billion euros. According to the site, it is the consequence of one of the "emergency measures" adopted in response to the Yellow Vests: the drop in CSG for certain retirees.
The retirement branch plunges it into the red, its balance going from 0.2 to -1.4 billion euros, despite the blow of planes on pensions, which were only revalued by 0.3% per year last, well below inflation.
Added to this is the usual loss of the Old Age Solidarity Fund (-1.1 billion), which nonetheless recorded "its lowest deficit in 11 years".
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Conversely, the industrial accidents (+1 billion) and family (+1.5 billion) branches not only remain in the green, but show "a growing surplus".
