Focus – France faces record debt of 3.6 trillion euros

France’s public debt reached a record level of 3,595.5 billion euros, or around 3.6 trillion euros, at the end of June 2026, according to data published by the National Institute of Statistics and Economic Studies (INSEE), as Reuters reported.

The debt rose by 59.6 billion euros during the second quarter of the year, after an increase of 75.8 billion euros in the first three months.

Relative to the size of the economy, the debt reached 119% of Gross Domestic Product (GDP), from 117.5% at the end of the first quarter.

The rise in debt comes at a time of increased pressure on French public finances, as the country approaches the 2027 presidential elections.

The issue of debt and public spending is expected to be one of the main topics of political and economic debate in the coming months.

Debt servicing, or the payments the state must make on debt interest, is weighing ever more heavily on public finances.

Meanwhile, France’s borrowing costs have risen and the Bank of France has warned that the country must take measures to curb the growth of debt.

INSEE data also show that France’s net debt reached 111.4% of GDP at the end of June, from 109.7% at the end of March.

The French government is meanwhile preparing the budget for 2027, in a difficult political and economic climate.

Proposals to cut public spending have sparked protests and strikes, while the government faces pressure to reduce the deficit and curb the growth of debt.