Posted Sep 24, 2022 2:29 PMUpdated on Sep 24, 2022 at 3:32 PM
Wage increases and job creations bring a breath of fresh air to Social Security. Thanks to sharply rising contributions, the deficit of Social Security and the Old Age Solidarity Fund (FSV) should drop significantly next year, according to our information, to 6.8 billion euros, or 11 billion better than the new forecast for 2022 (-17.8 billion). In 2021, the deficit stood at 24.4 billion, after the “record” of 2020 (-38.7 billion), a year marked by the Covid crisis.
These new data are integrated into the Social Security financing bill for 2023, which must be presented to the Council of Ministers on Monday. On the revenue side, the wage bill is up by 8.6% this year and the government is still expecting +5% in 2023.