Paris: France's public debt has surged to 117.5% of its GDP by the end of the first quarter, amounting to £3,536.1 billion. This marks an increase from the previous quarter's 115.7%. This information was revealed by the French National Institute of Statistics and Economic Studies (INSEE) on Thursday.
According to Yemen News Agency, the public debt rose by £75.6 billion between January and March. This follows a decrease of £23.6 billion in the fourth quarter of 2025. The increase in debt comes as the French government plans to convene an early warning committee on public finances. The committee aims to evaluate the country's financial situation amidst ongoing challenges in debt and deficit management, particularly in preparation for the 2027 budget.
The government is focusing on a disciplined fiscal approach to reduce the deficit to 5% of GDP by 2026 while aiming to stabilize the debt at 118.4%. The long-term goal is to reduce the deficit to below 3% by 2029, maintaining the debt around 118%. France currently holds the third highest public debt in the European Union relative to GDP, following Greece and Italy. Additionally, France is projected to have the second-highest deficit in the region at 5.1% in 2025, behind Belgium at 5.2%.