France’s public-sector debt surpasses €3trn

French public-sector debt topped three trillion euros ($3.25 trillion) for the first time ever, statistics authority Insee said Friday as it presented data for the first three months of 2023.

Following a massive surge of borrowing to cushion the impact of the coronavirus and cost-of-living crises, the debt level reached 112.5 per cent of annual GDP at 3.01 trillion euros by the end of March, far above the European Union’s target of 60 per cent.

AFP

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