ANALYSIS – Alongside public debt, the private debt rate (of households and companies) in France remains the highest of the major European countries.
It is not just the public debt that is increasing. Admittedly, the debt of the State and public administrations fell from 115.6% of GDP in September 2021 to 113.7% a year later, due to the increase in nominal GDP, linked in particular to the inflation, but it continues to grow in absolute value.
At the same time, the private debt of companies and households has increased in ten years, from less than 120% of GDP in 2012 to 147% in 2022. At the same time, it fell sharply in Spain, fell in Italy and increased more slowly in Germany.
France is at the high end of the range compared to its neighbours, but less than the United States or Japan. French households are more indebted than Italians, Germans or Spaniards, but much less than British or Americans.
French households are more indebted than Italians, Germans or Spaniards. Le Figaro
“There has been a very strong growth in the debt ratio of French households since the end of the 1990s, but it must be remembered that more than 90% of credit is done…
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