France’s total foreign debt is approaching 800 billion euros

2024-07-16 16:01:23

“France is a cicada,” concluded François Villeroy de Galhau, governor of the Bank of France, in a breath, showing this morning the annual balance of payments in 2023. This is the schedule of the new base, but that is not done ‘t change the photo.

Last year, the country recorded a current account deficit of 28 billion euros, equivalent to 1% of GDP. This situation contrasts with the surpluses of large neighboring countries, whether Germany, Italy or Spain. With a deficit of 79 billion in 2022, the euro area posted a surplus of 240 billion euros last year, corresponding to 1.8% of its GDP.