France's Public Debt Surpassed $3Trln In 2022 - Statistics Institute

Umer Jamshaid Published March 28, 2023 | 08:21 PM

The French public debt increased by 126.4 billion euros ($137 billion) to over $3 trillion over the last year, the French National Institute of Statistics said on Tuesday

PARIS (UrduPoint News / Sputnik - 28th March, 2023) The French public debt increased by 126.4 billion Euros ($137 billion) to over $3 trillion over the last year, the French National Institute of Statistics said on Tuesday.

"General government Maastricht debt (or consolidated gross debt in nominal value) increased by ��126.4 billion in 2022 and stood at ��2,950.0 billion," the statement read.

The institute noted that in percentage terms, the national debt decreased slightly, from 112.9% of GDP at the end of 2021 to 111.

6% at the end of 2022. The public sector budget deficit declined from 6.5% of GDP in 2021 to 4.7% of GDP, according to the statement.

In September 2022, French Minister Delegate of Public Accounts Gabriel Attal predicted that the size of the national debt would exceed $3 trillion within weeks. According to the official, the debt service in 2022 cost the government 18 billion euros more than in 2021. In 2023, the debt service will cost France 51.7 billion euros, Attal added.