{
  "id": 10663117,
  "title": "French debt hits 119% of GDP",
  "url": "https://urgent.news/2026/09/29/french-debt-hits-119-of-gdp",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T09:41:15.000Z",
  "source": {
    "name": "Politico EU",
    "slug": "politico-eu",
    "url": "https://www.politico.eu/article/french-debt-reaches-119-of-gdp-hitting-new-record/"
  },
  "original_language": "en",
  "account": "As of the end of June, France's national debt reached an alarming €3.6 trillion, equivalent to 119% of its gross domestic product, according to the national statistics agency Insee. The release of these figures comes amid growing concerns over the state of the French economy, whose debt levels are nearing those of Italy and Greece, two of the region's most indebted nations. With growth stagnating, the situation has become increasingly dire. French Prime Minister Sébastien Lecornu announced earlier this month that he intends to propose €54 billion in savings for the 2027 budget, which will be officially presented on Thursday. Lecornu has set a goal to reduce the budget deficit to 5% of GDP by next year, but the effectiveness of his minority government's spending plans remains uncertain. France had previously targeted a 5% deficit for this year, but the combination of limited economic growth and rising energy costs resulting from the Middle East conflict makes it highly unlikely that the government will achieve this goal. Even before the June release of the debt figures, international auditors and institutions had deemed it unlikely that France would meet its pledge to bring the deficit below 3% of GDP by 2029. The proposed 2027 budget, the final one the government will discuss before the upcoming presidential election, has faced criticism from Lecornu's left-wing opposition. Meanwhile, the far-right National Rally, led by presidential candidate Marine Le Pen, has sent mixed signals regarding its stance on the budget plans.",
  "summary": "Pessimism is mounting over the French economy’s outlook.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Le Monde English",
        "title": "French public debt soars to 119% of GDP, highest level since 1946",
        "url": "https://urgent.news/2026/09/29/french-public-debt-soars-to-119-of-gdp-highest-level-since-1946",
        "published": "2026-09-29T09:26:54.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}