France's national debt nears 122% of GDP as growth slows
World
France's national debt is on track to reach almost 122% of its economy, with the debt standing at nearly €3.6 trillion (about $4.08 trillion) at the end of June, equivalent to 119% of GDP.
With economic growth crawling at just 0.4%, this mounting debt is putting serious pressure on the country as President Macron nears the end of his term.
France's high spending limits tax room
Big budget deficits are a major reason, with in 2025, public expenditure accounted for 57.2% of GDP, way above the European Union average.
Political gridlock makes financial fixes tough, and with taxes already high (45.2% of GDP), there's not much room to raise more money.
Add in rising pension costs and higher interest payments on all that debt, and France faces some tough choices as elections approach.