On December 12, 2023, Caisse d’amortissement de la dette sociale (Cades) Chairman Jean-Louis Rey presented the institution’s 2023 balance sheet.
Tasked with financing and extinguishing the accumulated debt of the French Social Security system, Cades was due to complete its mission in 2024; it has been extended until 2033. Indeed, the Social Security deficit, which had reached €1.7 bn in 2019, rose sharply during the health crisis (€ +39.7 bn in 2020). It is expected to reach €8.8 billion in 2023 and €17.7 billion in 2027.
