France’s public debt is expected to reach 119.3% of GDP this year and 121.7% in 2027, according to new Finance Ministry projections reported on 19 September. The figures, submitted to the High Council of Public Finances, point to a further deterioration from the 115.7% ratio recorded in 2025. The ministry also expects a budget deficit of 5.4% of GDP in 2026. The projections were reported as part of the government’s preparations for the next budget . The central issue is the credibility of France’s route towards stabilising its finances. Debt is projected to continue rising while the government faces more expensive borrowing and difficult choices over expenditure and revenue. The new figures imply an increase of 3.
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