France’s debt balloons to its highest since 1978 amid stubborn deficits
TL;DR
France’s public debt is projected to reach about 119.3% of GDP in 2026 and 121.7% in 2027—the highest since 1978—driven by a persistent deficit around 5% of GDP, well above the EU’s 3% rule and the 60% debt reference. France remains the eurozone’s third-most indebted nation, with deficits expected to stay elevated as the government plans €54 billion in 2027 cuts and weighs pension-tax-break reductions, subject to Parliament and the High Council of Public Finances as the 2027 budget and elections approach.
- France's debt climbs to highest since 1978 euractiv.com
- French public debt to reach new record level in 2027, exceeding 120% of GDP Le Monde.fr
- French finance ministry expects record debt in 2026, reaching nearly 120% of GDP Reuters
- French premier Lecornu proposes big spending cuts to reduce deficit Financial Times
- France’s debt is becoming a problem for European defence Tomorrow's Affairs
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