France's Public Debt Set to Hit a Record 121.7% of GDP by 2027 Amid Persistent Deficit

France's public debt is projected to rise sharply, reaching 119.3% of the country's Gross Domestic Product (GDP) in 2026 and climbing further to 121.7% in 2027, according to the Ministry of Economy and Finance. This increase marks a significant rise from the 115.7% debt-to-GDP ratio recorded in 2025, signaling ongoing fiscal challenges for the French government.

In addition to rising debt, France is expected to maintain a substantial budget deficit, with a forecasted deficit of 5.4% of GDP in 2026, slightly improving to 5.0% in 2027. These figures were presented to the High Council of Public Finances, the body responsible for assessing revenue and expenditure forecasts.

The upward trend in public debt reflects the government's budgetary difficulties amidst economic pressures. Despite a marginal decrease in the deficit from 2026 to 2027, the debt accumulation trend highlights the challenge of balancing public finances.

These official projections underscore the critical fiscal situation France faces as it manages debt and budget deficits over the coming years. The government's announcements on September 19, 2026, emphasize the need for prudent financial management to address these rising obligations.