France's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

France's fiscal performance reflects cyclical pressures and structural challenges. The early 1990s saw deficits peak at -6.4% in 1993 due to weak economic growth and high unemployment. Efforts to meet EU fiscal targets reduced deficits to -1.6% by 1999. However, economic crises, including the 2008 financial crisis, widened deficits to -7.2% in 2009.

The COVID-19 pandemic caused significant fiscal strain, with deficits reaching -9.0% in 2020. While recovery is underway, with forecasts for deficits narrowing to -3.9% by 2029, structural reforms are needed to address persistent challenges like high public debt and rising social expenditures.