France's public debt hits historic 4T

French public debt has risen to a record level, reaching 119% of GDP at the end of the second quarter, amounting to approximately €3.6 trillion ($4.08 trillion). The government expects the debt to increase to 121.7% of GDP next year, putting additional pressure on the prime minister to present a budget that includes austerity measures worth billions of dollars. The rising debt remains a ongoing concern for European partners, especially given the record-breaking figures achieved by the Eurozone's second-largest economy.

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