France's public debt hits 119% in Q2
The French National Institute of Statistics and Economic Studies announced that France's public debt reached €3,595.5 billion by the end of the second quarter of this year, accounting for 119% of the Gross Domestic Product (GDP), up from 117.5% in the previous quarter. The public debt increased by €59.6 billion during the second quarter due to rising national and social security debts, while local government debts declined. The French government had warned that public debt could reach 121.7% of GDP by 2027, surpassing the European limit of 60%, a level that has not been seen since the publication of statistics began in 1978.
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