France’s national debt will soon exceed 3 trillion euros
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In the coming weeks, France’s public debt will exceed 3 trillion euros, this year debt servicing costs Paris 18 billion euros more than expected, declared in an interview with the newspaper Le Journal du dimanche, the minister-delegate for budgetary policy at the Ministry of Finance, Gabriel Attal.
“In the coming weeks, we will overcome the threshold of 3 trillion euros of debt <...> In 2023, servicing the debt will cost us 51.7 billion euros,” Attal said.
According to him, the draft budget for next year includes a deficit of public finances at the level of 5%. The authorities intend to freeze the growth of gas and electricity bills at the level of 15% instead of 120%. Attal also announced plans to reduce government spending by 2.6% in 2023.
According to the National Institute of Statistics and Economic Research (Insee), France’s debt in the first quarter of this year reached 2.9 trillion euros, which is 114.5% of GDP.
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