2024-4 – France’s Looming Budget Crisis

The French state’s budget situation is quickly becoming unsustainable, with public deficits reaching alarming levels – a reality that has been obscured by misleading reporting. By simply stating there is a “5.5% deficit” without clarifying that this figure is a percentage of the GDP or questioning the merits of using GDP as a measure, most media outlets are failing to convey the true scale of the problem to the public. The reality is the state’s deficit represents nearly one-third of its total expenditures! The impending budgetary correction will inevitably lead to major economic and social upheaval.