Working-age population, total population and fiscal deficit

The working-age population has been falling relative to the total population since 2009 in the euro zone and in France, and the gap between the total population and the working-age population is set to increase steadily (we are conducting this analysis until 2050). Tax revenues are mainly linked to the working-age population (employment); public spending is essentially linked to the total population. Not surprisingly, while the fiscal deficit and the public debt ratio have increased as a trend since 2009, public spending and the tax burden have also increased since 2009.