France's public debt reaches maximum in 50 years

France’s public debt will reach 119.3% of GDP in 2026. This is the highest level since 1978 due to a budget deficit. According to this indicator, France ranks third among the eurozone countries in terms of debt, second only to Greece and Italy.

According to sources of the Agency, in 2027, public debt could grow to 121.7% of GDP, which is twice the target of 60% of GDP, which should aspire to EU member states. The sources said the increase in France's public debt was "automatic" and "results from a continuing high deficit.".

According to EU rules, the state deficit should not exceed 3% of GDP. In 2025, the figure was 5.1% of GDP, and the French government predicts that this year it will reach 5.4%.

The French government expects the deficit to shrink to 5 percent in 2027, when presidential elections are held and a new government is formed. Earlier, last week, when presenting the draft budget, Prime Minister Sebastian Lecornu announced proposals for adjustments and cuts worth 54 billion euros in the budget for 2027. At the same time, the government submitted final decisions on the most socially sensitive issues, such as reducing tax benefits for pensioners, to the parliament.

Vlad Nikiforov