The public deficit will “significantly” exceed the target of 4.9% in 2023, announces Bruno Le Maire. “When we earn less, we spend less,” summarizes the tenant of Bercy to justify the budget cuts.
On Monday, Bercy published the monthly budgetary situation as of January 31, 2024, presenting a drop in tax revenue of 2.3 billion. This drop is explained “by the reduction in net VAT accruing to the State due to the increase in reimbursements and reliefs, as well as larger transfers to local authorities and social security organizations”