Insee Première · May 2023 · n° 1949

General Government Account in 2022 The public deficit decreased, expenditure and revenues remained high

In 2022, the public deficit stood at 124.5 billion euros, after 162.0 billion euros in 2021, or 4.7% of gross domestic product after 6.5%. Public expenditure decided in 2022 to support households and businesses in response to high energy prices partly offset the sharp fall in spending linked to the health crisis. The acceleration of prices led to an increase in indexed social benefits and cost of debt, part of which is also indexed on inflation. Public revenues continued to benefit from the post-crisis rebound in activity. The general government deficit was driven by central government, while the social security funds recorded a surplus. The public debt amounted to 111.8% of GDP at the end of 2022, after 112.9% at the end of 2021.