French debt surges past 119% of GDP, projected to breach 121% by 2027
French public debt surged to 119% of GDP and is projected to exceed 121% by 2027.
Event / Economy
France Public Debt Crisis
French public debt reaches record 119% of GDP in Q2 2026, with projections to exceed 121.7% by 2027, surpassing EU fiscal limits and raising concerns about economic stability.
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2026-09-29 to 2026-11-01 · UTC publication dates
Coverage begins 29 Sept, 08:47 UTC
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What happened
French government projects public debt will reach 121.7% of GDP by 2027
The French government announced in September 2026 that the country's public debt is projected to reach 121.7% of GDP by 2027, more than double the European Union's 60% limit. This would represent an unprecedented level since INSEE began tracking this statistic in 1978.
French public debt increased by 59.6 billion euros in Q2 2026
France's public debt increased by 59.6 billion euros between the end of the first quarter and the end of the second quarter of 2026. This followed an even larger increase of 75.8 billion euros in the first quarter, when debt represented 117.5% of GDP.
French state debt alone increased by 53 billion euros in Q2 2026
Within the overall public debt increase, the debt of the French state specifically increased by 53 billion euros in the second quarter of 2026, following an increase of 66.3 billion euros in the first quarter. Social security debt also increased during this period.
French public debt reaches 3,595.5 billion euros, equivalent to 119% of GDP in Q2 2026
France's public debt reached 3,595.5 billion euros in the second quarter of 2026, representing 119% of gross domestic product, according to data released by INSEE (Institut national de la statistique et des études économiques) on September 29, 2026. This represents a record level for the country's debt-to-GDP ratio.
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