Summary of Le projet de loi de finances : comment ça marche ?

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The budget director, also known as the Finance Minister, prepares the draft budget law in coordination with the ministries. The two parts of the budget law--the first defining government resources, and the second authorizing government spending--are always balanced. The parliament approves government expenditures and taxes through the passage of a budget bill, and the government can borrow money to finance deficits when there is a surplus.

• 00:00:00 The French government operates under the authority of the Minister in charge of the budget, who plays an important role in budgetary management. The budget director, also known as the Finance Minister, prepares the draft budget law in coordination with the ministries. The two parts of the budget law--the first defining government resources, and the second authorizing government spending--are always balanced. The parliament approves government expenditures and taxes through the passage of a budget bill, and the government can borrow money to finance deficits when there is a surplus. The budget director's staff is mobilized in the early stages of the year to study spending trends for the next year and to meet with ministerial departments requesting increases or decreases in their budget requests. The director also meets with the ministries to clarify their budgetary requests and to develop priorities for the government's overall objectives. Once the requests have been identified, the director works with the ministerial cabinets to draft the budget bills. This process usually takes several months, and the director also consults with the General Directorate of Public Finance (DGFiP) in preparing and defending the budget. The government presents the budget bills to the Council of Ministers, and the Parliament has a period of 70 days to debate and vote on the budget. The government also presents the budget to the National Assembly