DECRYPTION – Inflation, the war in Ukraine and political tensions complicate the decline in debt from 2026.
The French public debt is resuming its mad growth. At the end of March, it reached 2,902 billion euros, an amount up by nearly 90 billion compared to the previous quarter, according to the latest data from INSEE. The debt thus represents 114.5% of GDP, versus 112.5% at the end of 2021 and a peak of 117.4% just a year ago. This sharp increase is mainly due to the increase in the State debt (+64.8 billion euros), while that of the Social Security administrations progressed more timidly (+25.6 billion euros).
Before the health crisis at the end of 2019, French public debt stood at 97.6% of GDP. Between the emergency measures introduced at the heart of the restrictions to support the economy, help individuals get through the shock and finance the recovery plan aimed at preparing businesses to rebound, nearly 200 billion euros have been injected in these two last years. Since last fall, a new train of devices of almost…
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