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French public debt hits 1995 high
The French Ministry of Finance reported that the public debt in 2026 reached its highest level since 1995, expected to hit 119.3% of gross domestic product (GDP), and 121.7% in 2027—almost double the European Union's legal ceiling of 60%. This is attributed to the ongoing severe budget deficit, which amounted to 5.1% of GDP last year and is projected to rise to 5.4% this year, drawing particular scrutiny from the EU. The government is working to cut spending by 54 billion euros in the 2027 budget, with parliamentary adjustments to some measures, amid an economic slowdown and energy price-related challenges.
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