Basics of economics Every day, find selected information from a world in complete transformation.
No. Today 3 trillion dollars | According to INSEE, the French public debt crossed for the first time The symbolic threshold is 3,000 billion euros In the first quarter, it accounted for 112.5% of GDP, compared to 111.8% at the end of 2022. This public debt increased by 63.4 billion euros To reach 3013.4 billion by the end of March. The increase observed in the first three months of the year is mainly due to the increase in state debt (+48.6 billion euros), while the social security administrations increased by 17.4 billion euros. On the other hand, the debts of various central government agencies decreased by 2.8 billion euros and the debts of local public administrations remained practically stable.
treaty Maastricht In 1992, the states’ public debt was set at 60% of GDP, a limit that France exceeded at the end of 2002, without succeeding in reducing it since then. However, due to the health crisis, as well as the conflict in Ukraine, these rules have been suspended, such as those regarding public deficits of less than 3% of GDP. They will be applied again in 2024. In April, the French government presented a more ambitious path to restoring the country’s public accounts, aiming to reduce the debt to 108.3% of GDP by 2027 and reduce the deficit to 2.7%, in line with European standards.
Economy: France’s public debt exceeded 3 thousand billion euros in the first quarter https://t.co/OtkW424S2H
– CNEWS (CNEWS) June 30, 2023
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