Dear subscribers,
The news is busy on the public finance front, with the revelation on Tuesday by INSEE of the final figure for France's public deficit in 2023, which reached 5.5%.
A slip-up, a “rout” even we headlined on the front page of Le
Figaro
published this Wednesday, which will weigh heavily in the political debates of the months to come.
Multiple factors contributed to this very poor result.
Let's focus on one of them: the energy crisis.
This has affected economic activity.
And this can be seen in the slowdown in growth at the end of 2023, in company accounts, and therefore in tax revenues, and also in the country's carbon footprint, excellent in 2023 for good reasons (efforts to transition, nuclear production)... and bad ones (drop in production in industry).
The energy crisis has also weighed on state spending, with the various aids, shields and checks.
A “whatever it costs” whose gross net bill…
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