France's public debt to hit record 119.3% of GDP in 2026, finance ministry says

On September 19, 2026, France's finance ministry announced that the country's public debt will reach 119.3 percent of GDP in 2026 and 121.7 percent in 2027, the highest levels since 1995. This rise is due to a high budget deficit, which was 5.1 percent of GDP in 2025 and is forecast at 5.4 percent in 2026. The government expects the deficit to drop to 5 percent in 2027, when elections will be held. Prime Minister Sebastian Lecornu has proposed 54 billion euros in budget cuts for 2027, but parliament will decide on sensitive measures. The French economy has been slowing since late 2025.