French debt hits 119.3% of GDP
The French Ministry of Finance has projected that the national debt will reach a record high of 119.3% of GDP in 2026, indicating a deterioration in the country's public finances, with it rising further to 121.7% in 2027. The ministry also expects that 2026 will end with a budget deficit of 5.4% of GDP, despite the Prime Minister's efforts to cut spending by €54 billion in the 2027 budget. Additionally, the increase in yields on French bonds compared to Germany has heightened investor concerns, as the yield spread has widened by more than one percentage point for the first time since the Eurozone debt crisis.
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