France's National Debt Has Hit $4 Trillion. Here's Why | Vantage on Firstpost | N18G

France’s national debt has climbed to a record €3.4 trillion ($4 trillion), equal to 115.6% of GDP, nearly double the European Union’s 60% limit. The debt has built up over decades of budget deficits, pandemic relief, and energy subsidies after Russia cut gas supplies in 2022. Interest payments are expected to cost €67 billion ($79 billion) this year. Former Prime Minister François Bayrou’s austerity plan was rejected in parliament, leading to his ouster. His successor, Sébastien Lecornu, now faces challenges as he prepares a new budget in October, while hundreds of thousands have protested against nationwide austerity measures.

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