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The public deficit will widen to 11.4% of GDP this year, says Darmanin

The public deficit will widen to 11.4% of GDP this year, with the plunge of the activity and the massive expense incurred to support the economy, announced on T

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The public deficit will widen to 11.4% of GDP this year,  says Darmanin

The public deficit will widen to 11.4% of GDP this year, with the plunge of the activity and the massive expense incurred to support the economy, announced on Thursday the minister of the public Accounts Gérald Darmanin.

read also : Growth, deficit, unemployment: all these predictions made ill by the coronavirus

The forecast government deficit was up by 9% of GDP. "We are increasingly indebted," because "we have spent a lot of money", but "the situation is under control," said the minister on France 2 this morning (Thursday).

The minister recalled that a new amending budget will be reviewed on June 10, the third in six months. If the deficit numbers and the growth, a decrease of 11%, "may make you dizzy", Gérald Darmanin stated that"we see when even the return of economic growth (...) the French consume, and begins to go back into the coffers of the State," he said.

The debt will increase more than what was expected up here, or 115% of GDP, has even warned the minister, without giving precise figures. The deficit of the State budget will grow to 220 billion euros this year, and that of social security, more than 52 billion euros.

last year, the public deficit was 3% of GDP and the debt-98.1%. "Our bet who is going to be held, is that as we have supported the economy, that we are limited to a maximum of the bankruptcy, that people have not been unemployed (...), well, we'll return to a normal life after these three months of great difficulties".

on Tuesday, the minister of the Economy Bruno The Mayor had indicated that the French economy would eventually contract by 11% this year, a level not seen since the second world war, against a decrease of 8% anticipated previously.

25 commentairesMoncherle 04/06/2020 10:11

It is glad Mr. Brochant !

MTR39le 04/06/2020 at 10:03 am

It is very late and it's pointless to whine !! Before the crisis, as did the State ? He borrowed REGULARLY nearly 15 Billion € every month !!! and we were almost 100 % of endet --
completely, so that one does not hide
the incompetence and negligence of ours
executive behind the pretext of the recent outbreak !!

seb93le 04/06/2020 09:58

This is a big joke to this forecast, with 11% decrease in the gdp and even a greater number in part-time unemployment is necessary to anticipate at least double. And they allow a precision to the decimal point.

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