France's level of debt will continue to increase, reaching 119.3% of Gross Domestic Product (GDP) in 2026 and 121.7% in 2027, record levels, today projected the French Ministry of Economics and Finance.
© Riccardo Milani / Hans Lucas / AFP via Getty Images
19/09/2026
by
Lusa
“ ANDthis climb is mechanical. It is a result of a deficit that remains high,” the ministry added at a press conference, after having submitted the budget texts for 2027 to the High Council for Public Finance (HCFP)
The opinion of this institution, linked to the Court of Auditors, is mandatory and must now state “the sincerity and credibility” of macroeconomic trajectories.
These levels of indebtedness have been the highest since 1995, according to data from the French National Statistical Institute (Insee).
After 5.1% of GDP in 2025, the government foresees a government deficit of 5.4% in 2026. This would decrease to 5% in 2027, a goal that the French Minister for Economic Affairs and Finance, Roland Lescure, considered “ambitious” but “obviously feasible” on Thursday.
“The prospect of stabilising this [debt] ratio can only occur when the government deficit is reduced to 3%” of GDP, a target maintained for 2029, still needed.
On Thursday, the French Prime Minister, Sébastien Lecornu, presented the broad lines of a budget for 2027 which he wants “offensive”, with a massive effort of EUR 54 billion, but leaving Parliament the task of deciding on some measures, such as those considered sensitive and concerning pensioners.
The draft State and Social Security Budget will be presented at the Council of Ministers on 1 October, before its consideration in Parliament.