FX.co ★ France Budget Deficit Widens in January-September

France’s state budget deficit widened to €159.2 billion in the January–September 2026 period, up from €155.4 billion a year earlier, as expenditure continued to grow faster than revenue. Public spending increased by 4.9% year-on-year to €404.1 billion, driven mainly by higher personnel costs, operating expenses, debt-servicing charges, and investment outlays.

On the revenue side, total receipts rose by 4.1% to €275.0 billion, supported by stronger tax inflows. Net tax revenue grew 3.9% to €250.5 billion, largely reflecting higher VAT and income tax collections. Non-tax revenue also advanced, rising 11.6% to €19.5 billion. At the same time, the deficit on special Treasury accounts narrowed to €30.1 billion, compared with €34.3 billion in the same period a year earlier.