The general reconfinement of the French population in the face of the coronavirus continues to weigh on public finances, with public deficit forecasts even worsened.

It will represent 248 billion euros in 2020, with a public debt flirting with the bar of 120% of GDP.

The French public deficit should stand at 11.3% of gross domestic product (GDP) in 2020, widened like the public debt by the coronavirus crisis and the reconfinement which has just been decreed, the Minister of Accounts announced on Sunday. public, Olivier Dussopt.

The deficit, which measures the level at which public spending exceeds revenue, "is forecast at 248 billion euros in 2020, or 11.3% of GDP," Olivier Dussopt announced in the

Journal du Dimanche

.

The latest estimate was 10.2%. 

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On Friday, the Minister of the Economy, Bruno Le Maire, had already announced that the public debt should reach 119.8% of GDP this year, and no longer 117.5%, a level never seen.

It is the re-containment, which entered into force in the face of the resurgence of the Covid epidemic, which explains this worsening of public accounts. 

"Temporary" degradation

As since the start of the health crisis, with a first lockdown in the spring, the government has taken costly measures to support the economy.

In total, 20 billion new euros will be released to deal with the crisis, over a period of eight weeks.

They will be added to the nearly 470 billion euros planned since March.

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"We agree to massively degrade our public finances, but ensuring that it is temporary: the emergency and recovery measures will not be sustainable", assured Olivier Dussopt, recalling two exceptions: the recovery plan of the system of health, says Ségur, and lowering certain taxes on businesses.

No tax increase planned

As such, the Minister Delegate reiterated the government's promise not to increase taxes to repay the public debt.

"The repayment will be made over time, over several years, thanks to reforms, growth and control of public spending," assured Olivier Dussopt.

"We are holding on because the French state is capable of borrowing under favorable conditions," he insisted.

"Then, we give ourselves the means so that the recovery is there".

The reconfinement must also worsen the situation of the French economy as a whole.

According to estimates given by the government on Friday, GDP is expected to contract by 11% this year, against a previous estimate of -10%.

"We are going to have a fourth quarter which will be difficult, obviously, we are confined, the French economy will turn less strong than usual," Bruno Le Maire warned on Friday.