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Far from the return to balance announced a year ago, the Social Security deficit worsened this year. AFP / Miguel MEDINA

In France, the Social Security financing bill is presented on Monday. A budget probably more complicated to complete than expected. The deficit of the Sécu worsened according to figures of the AFP. The government should therefore postpone the recovery of the accounts after the end of the five-year period.

The relapse is too severe for a faster release. A year ago, we were told a slight surplus . And patatras, the Social Security deficit will ultimately reach 5.4 billion euros this year, not much less next year, according to figures almost final.

The cause of this miscalculation: overly optimistic forecasts. Growth, inflation and the wage bill have not increased as much as hoped, so the money inflow has done the same.

Added to this, the bill of concessions to "yellow vests": reduced CSG for some retirees, exemption of overtime, still atrophied revenue.

Of the four branches of Social Security, pension insurance has the largest deficit. And while the executive launched a new phase of consultation on pension reform with the aim of bringing the system back to balance by 2025.

The government will have to find even more sources of economy that Emmanuel Macron promised for next year an indexation of pensions of less than 2,000 euros on inflation and a guaranteed minimum for a complete career set at 1,000 euros per month. Promises to 1.5 billion euros that will finance.