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French Q1 public debt jumps to 97.6 percent of GDP

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Staff Writer | June 30, 2018
The French public debt widened by 36.9 billion euros ($42.96 billion) to hit 97.6 percent of gross domestic product (GDP) in the first quarter of the year, official data showed.
France street
France   The French public debt widened
According to Insee statistics bureau, France reported a total of 2.255 trillion euros of debt at the end of March, pulling the debt ratio to the GDP up by 0.8 percentage points from the last three months of 2017.

First quarter's rise stemmed mainly from 40.7 billion euros growth in the state debt over the period while cost of social security funds went down by 2.6 billion euros to 223.5 billion euros during the first three months of 2018 compared with a quarter earlier, it said.

As for the general government net debt, the value went slightly down to 200.1 billion euros over the period, Insee added.

The government expects debt-to-GDP ratio to stand at 96.8 this year and to decrease by 5 percentage points over the period 2017-2022.

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