US EditionFrance Faces €5bn in Fresh Cuts as Debt Balloons to Record High
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12 Articles
France faces €5bn in fresh cuts as debt balloons to record high
France’s public debt rose again in early 2025, reaching just over €3.35 trillion at the end of the first quarter – 114 percent of GDP – official figures showed on Thursday. The government now says it needs to find another €5 billion in savings to rein in the ballooning deficit.
France's public debt was revealed on Thursday 26 June by INSEE. It reached €3,345.8 billion, or 114% of GDP, according to INSEE data, an increase of €40.5 billion compared to the previous quarter.In detail, the government's debt rose (+€36.7 billion), like that of social security administrations (+€3.3 billion) and that of local public administrations (€600 million).At the end of the first quarter of 2025, public debt stood at €3,345.8 billionht…
France's debt now stands at €3,346 billion, according to INSEE. However, an intervention by the International Monetary Fund seems to be ruled out in the short term. In the event of a crisis, the European Central Bank could act more easily.
Indebtedness amounts to €3,345.8 billion at the end of the first quarter. Matignon and Bercy strive to find the savings needed to reduce the country's deficit.
The number of large defaults with the Treasury (those who owe more than 600,000 euros and those responsible for solidarity) stood at the close of 2024 at 5,997, 87 less than a year earlier in net balance, since 718 debtors who were not listed last year have entered and 805 have been released.
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