2023-06-30 07:26:00
The country’s public debt, which has increased massively since the health crisis, further increased by 63.4 billion euros to reach 3,013.4 billion in absolute value at the end of March, detailed the National Institute of the statistics.
In relation to GDP, it reached 111.8% (revised upwards) at the end of December 2022 and 114.8% in the first quarter of 2022.
The increase recorded over the first three months of the year is mainly due to the increase in the State debt (+48.6 billion euros), when that of the social security administrations increased by 17.4 billion euros.
On the other hand, the debt of miscellaneous central government bodies fell by 2.8 billion euros and that of local public administrations remained almost stable.
The 1992 European Treaty of Maastricht set a public debt limit for States at 60% of GDP, a threshold that France exceeded at the end of 2002, never to go below it once more since.
But, since the health crisis, followed by the war in Ukraine, this rule, like that of a public deficit below 3% of GDP, has been suspended. They will apply once more in 2024.
In April, the government presented a more ambitious trajectory for restoring France’s accounts, which plans to reduce the debt to 108.3% of GDP in 2027 and the deficit to 2.7%, in the European nails, once morest 4.7% in 2022 and 4.9% expected this year.
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