There are only a few rare occasions to peek behind the scenes of the Elysée Palace and delve into its accounts. The Court of Accounts, a state audit institution, offered one such occasion with the publication of its latest report on the 2023 spending of the French presidency, on Monday, July 29. The report reveals record high expenses – €125 million – which were insufficiently offset by income, creating an equally unprecedented €8.3 million deficit.

When contacted, the Elysée denied this deficit. The budget "is balanced," the gap "having been [made up for] by funds available to the presidency," according to a palace press release. To face up to its expenses, the Elysée drew on its reserves. But such a situation is unsustainable, warns the Court: "Significant efforts will have to be undertaken, starting in 2024, in order to restore and perpetuate balance." All the more so as this financial slippage is partly linked to choices made by the Elysée. "While several external factors explain this unanticipated level of expenditure (...), internal factors must also be taken into account (...) and require increased vigilance," adds the report.

The auditors focused on the department in charge of travel and events, such as the "Made in France" fair, the Fête de la Musique music festival, the European Heritage Days and state visits. "Its initial 2023 budget was therefore increased by almost 45% over the course of the year, and almost all of the funds were consumed, over €31 million (€22 million, in 2022)," notes the Court. At issue was the proliferation of events and the rise in inflation, as well as "the increase in the number of guests and the average cost per person."

Despite fierce social tensions linked to a highly unpopular pension reform and flagging household budgets, the Elysée organized two particularly lavish state dinners in 2023. The first, in honor of Indian Prime Minister Narendra Modi, was held at the Louvre in July, and was attended by over a hundred guests, including far-right Rassemblement National (RN) MP Jean-Philippe Tanguy, former professional footballer Vikash Dhorasoo, and the executive chairman of the ArcelorMittal steel production company, Lakshmi Mittal. The total bill for this vegan dinner: €412,000.

The second, held to celebrate King Charles III on his first state visit to France, took place in September in the Versailles Palace's Hall of Mirrors. The menu for the around 150 guests was devised by some of France's greatest chefs: Anne-Sophie Pic, Yannick Alléno and Pierre Hermé. It featured blue lobster, poultry from the renowned Bresse area with porcini mushrooms, as well as rose, raspberry and lychee macaroons. The guests were just as prestigious: Bernard Arnault, the CEO of the LVMH luxury goods group, telecoms entrepreneur Xavier Niel (who is also an individual shareholder of Le Monde), television presenter Stéphane Bern, novelist Ken Follett, and actresses Kristin Scott Thomas and Charlotte Gainsbourg. This time, the Elysée spent €475,000. The fact that the king's visit, which was originally scheduled for March but had to be canceled because of protests against the pension reform, was postponed added a further €80,000 to the bill.

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