Tax & Finance

#2022-17262023 Budget Act

🇫🇷France··Other·High Impact·View source ↗

AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.

🇬🇧 English

The 2023 Budget Act outlines the French government's financial plans, specifying expected revenues and expenditures. It sets fiscal targets, including debt and deficit levels as a percentage of GDP, and allocates resources across various sectors, impacting public services and infrastructure investment.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.

Key Changes

  • Sets fiscal targets including debt and deficit levels.
  • Allocates resources across different public sectors.
  • Adjusts forecasts based on economic predictions.

Obligations

What this law requires

high

Achieve a structural balance (solde structurel) of -4.0 points of potential GDP for 2023

French central government and all public administrations
operational
high

Maintain Maastricht debt at or below 111.2% of GDP for 2023

French government (all public administrations)
operational
high

Achieve an effective balance (solde effectif) of -5.0% of GDP for 2023

French government and all public administrations
operational
high

Limit mandatory levy rate (taux de prélèvements obligatoires) to 44.9% of GDP for 2023

French government
operational
high

Reduce public expenditure (excluding tax credits) to 56.9% of GDP or €1,572 billion in 2023

French government and all public administrations
operational

Affected Parties

Public sectorFrench taxpayers

Tags

budget,fiscal policy,public finance