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2h ago

Insee to Publish Q2 Debt Data as France Shapes 2026 Budget

Investors seek a credible multi‑year consolidation plan after Fitch’s downgrade.

L'Insee doit dire jeudi si la dette française a encore gonflé au deuxième trimestre
Une vue du ministère de l'Economie et des Finances, à Paris, le 27 août 2025.
Le ministère de l’économie, à Bercy.

Overview

  • Insee releases second‑quarter public debt figures Thursday after reporting €3,345.4 billion, or 113.9% of GDP, at end‑March.
  • Prime Minister Sébastien Lecornu faces a mid‑October deadline to submit a 2026 budget that can avoid censure in the National Assembly.
  • Fitch cut France’s sovereign rating in September and projects debt could reach about 121% of GDP by 2027, with this year’s deficit seen near 5.4% of GDP.
  • Economists link faster debt growth since 2019 to structural deficits, crisis‑era support, softer growth and unfunded tax cuts, and they call for spending cuts plus targeted tax increases.
  • Social tensions are building, with unions planning a nationwide mobilisation on October 2 and employers staging a meeting on October 13.