According to INSEE, the gross domestic product increased by 1.6%, and the public deficit decreased by 0.3 percentage points year-on-year to 2.5% of GDP last year.
The two pieces of news are rather positive. On one hand, France’s public deficit decreased in 2018, once again falling below the 3% of GDP threshold; on the other, growth was revised upwards.
The growth rate had reached 2.3% in 2017, reminded the statistical institute, which maintained unchanged its figures for the last quarter of last year at 0.3%.
France’s deficit remains under the 3% of GDP threshold, although a new slippage is looming for 2019.
According to an initial estimate published by INSEE, the balance of public accounts, combining the state budget, social security, and local government budgets, stood at 2.5% of the gross domestic product, equivalent to 59.6 billion euros.
