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French public debt to reach new record level in 2027, exceeding 120% of GDP
Le Monde.fr • • world
Key Points:
- France's public debt is projected to rise from 119.3% of GDP in 2026 to a new record of 121.7% in 2027, according to the government's draft budget bill released on September 19.
- Public debt has increased significantly since 2010, when it was 86% of GDP, and is expected to continue climbing through the next five-year presidential term.
- The Finance Ministry highlighted that as long as the public deficit remains above 3% of GDP, the debt will continue to grow due to a mechanical effect.
- Despite Prime Minister Sébastien Lecornu's pledge of "tax stability" and slight tax reductions for large corporations in 2027, the draft budget indicates that taxes and mandatory levies will actually increase.
- The anticipated rise in taxes and levies is intended to help restore public finances, which are currently not on track to meet fiscal targets.
