Court of Accounts points to state spending

Finance

The institution asserts in a report to be released Wednesday that the state has not sufficiently reduced the public deficit in 2017, reveals “The World”.

 

The Court of Auditors is not soft with the State. The institution criticizes the insufficient improvement of the French public deficit in a forthcoming report on the budget of the state, says the daily newspaper Le Monde in its edition dated Sunday, May 20. In this report, which is to be made public Wednesday, May 23 and whose daily newspaper has obtained a version, the Court of Accounts reveals its conclusions for 2017, pivotal year of end of mandate of the president François Hollande and beginning of mandate of the president Emmanuel Macron .

For the past year, the deficit amounted to 67.7 billion euros, “slightly lower than 2016 (69.1 billion euros).”  “But, to stabilize the debt of the state in points of gross domestic product – it reached 96.8%, according to the latest figures of the INSEE – it would have had to be down some 25 billion ‘euros’, adds the newspaper.

The five-year Hollande in the sights

If the Court of Auditors points the finger at the end of Holland’s five-year management, “the change of majority from the summer of 2017 did not prevent the increase in the expenditure of the various ministries to reach for the year 10, 6 billion euros (+ 4.8%) excluding debt and pension, “reports the daily. “Tax expenditures continue to grow and escape the control policies displayed (…), the debt continues to grow,” says the report quoted by Le Monde . And this, even as the state has benefited from a dynamic economic context.

Finally, the critical report of the devices he accuses of contravening the “good principles of budget management”, including investment programs for the future, according to the daily.

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