France recorded a Government Debt to GDP of 110.60 percent of the country's Gross Domestic Product in 2023. This dataset provides the latest reported value for - France Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The ratio of national debt to gross domestic product (GDP) in France was forecast to continuously increase between 2024 and 2029 by in total 11.8 percentage points. After the sixth consecutive increasing year, the ratio is estimated to reach 124.1 percent and therefore a new peak in 2029. Depicted here is the general government's gross debt in relation to the country's GDP. According to the International Monetary Fund, gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. The GDP, on the other hand, refers to the total value of final goods and services produced during a year.Find more key insights for the ratio of national debt to gross domestic product (GDP) in countries like the Netherlands, Belgium, and Luxembourg.

Key information about France Government Debt: % of GDP

• France Government debt accounted for 110.6 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 111.7 % in the previous quarter.
• France government debt to GDP ratio data is updated quarterly, available from Dec 1995 to Dec 2023.
• The data reached an all-time high of 117.5 % in Mar 2021 and a record low of 56.1 % in Dec 1995.

Related information about France Government Debt: % of GDP

• In the latest reports, France National Government Debt reached 3,409.6 USD bn in Mar 2024.
• The country's Nominal GDP reached 736.3 USD bn in Mar 2023.

In 2024, public debt in France represented 112.3 percent of the country’s GDP. According to the source, public debt in France is supposed to remain stable in the upcoming years. There was a substantial increase between 2019 and 2020 due to the Covid-19 pandemic and the French government's economic response to it. Since 2005, public debt in France is increasing making the country one of the most in debt of the European Union.

A debt country

Public debt, also known as national debt, appears to be the difference between what a government is receiving and spending in a year. It is the accumulation of annual budget deficits, which happened when the government was spending more than receiving. Public debt in France is increasing since 2007, while the debt interest expenditure amounted to more than 45 billion euros in 2022.

France’s revenue and spending

Most of French public debt is generated by the State, in comparison with the social security system and the regional and local authorities. The budget balance of the country has been negative for years and does not appear to reach a positive one in the future. France spends most of its budget on tax repayments and abatement, as well as on education and defense. In 2021, France’s government spent more than 1.48 trillion euros, whereas its revenue amounted to 1.3 trillion euros. Non-tax revenue collected by the state came in majority from dividends, while it collected 70 billion euros by levying taxes on income and 140 billion euros through VAT in 2016.

This graphic depicts the public debt of France from 2004 to 2022 as a percentage of Gross Domestic Product (GDP). Since 2008, the French public debt continuously rose and reached its highest in 2020 with 146 percent of the GDP. However, since this peak of 2020, the public debt started decreasing and was equal to 117.3 percent of the GDP in 2022.

France debt to gdp ratio for 2022 was 98.66%, a 18.23% decline from 2021.

• France debt to gdp ratio for 2021 was 116.89%, a 6.29% decline from 2020.
• France debt to gdp ratio for 2020 was 123.17%, a 18.21% increase from 2019.
• France debt to gdp ratio for 2019 was 104.96%, a 3.34% increase from 2018.

Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

Il debito privato sul PIL in Francia è sceso al 268,20% nel 2023 rispetto al 278,80% nel 2022. Valori correnti, dati storici, previsioni, statistiche, grafici e calendario economico - Francia - Debito privato e PIL.

Key information about France Household Debt: % of GDP

• France household debt accounted for 74.2 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 77.8 % in the previous year.
• France household debt to GDP ratio is updated yearly, available from Dec 1977 to Dec 2023.
• The data reached an all-time high of 81.0 % in Dec 2020 and a record low of 19.6 % in Dec 1977.

CEIC calculates annual Household Debt as % of Nominal GDP from quarterly Household Debt and annual Nominal GDP. The Banque de France provides Household Debt in EUR. National Institute of Statistics and Economic Studies provides Nominal GDP in EUR. Household Debt includes Sole Proprietorship.


Related information about France Household Debt: % of GDP

• In the latest reports, France Household Debt reached 2,335.5 USD bn in Sep 2024.
• Money Supply M2 in France increased 0.8 % YoY in Nov 2024.
• France Foreign Exchange Reserves was measured at 29.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.5 Months of Import in Nov 2024.
• France Domestic Credit reached 5,416.5 USD bn in Oct 2024, representing an increased of 1.4 % YoY.
• The country's Non Performing Loans Ratio stood at 2.4 % in Dec 2021, compared with the ratio of 2.7 % in the previous year.

In the third quarter of 2024, Greece's national debt was the highest in all the European Union, amounting to 158 percent of Greece's gross domestic product. In spite of Greece's total being high by EU standards, it marks a substantial decrease from the historical high point reached by the country's national debt of 207 percent of GDP in 2020. Italy, France, Spain, Belgium, and Portugal also all have government debt worth over one year's production of their economies, while the small Baltic country of Estonia has the smallest national debt when compared with GDP, at only 24 percent. In debitum incrementum?A country’s national debt, also known as government debt or public debt, is defined as all borrowings owed by the government of a country. It usually comprises internal debt – owed to other governmental departments – and external debt, which is held by the public and is owed to government bond owners. National debt can be caused by a struggling economy in general, or by low tax income, which usually leads to money being borrowed from other governments for support, which in turn cannot be paid back right away. At first glance, a high national debt is not always a sign of a struggling economy – but since increasing debt can slow down economic growth significantly, it is imperative for the respective government to seek a steady reduction in the long run.

Key information about France External Debt: % of GDP

• France External Debt accounted for 244.9 % of the country's Nominal GDP in 2023, compared with the ratio of 243.0 % in the previous year.
• France External Debt: % of Nominal GDP data is updated yearly, available from Dec 2004 to Dec 2023.
• The data reached an all-time high of 264.9 % in Dec 2020 and a record low of 123.0 % in Dec 2004.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and annual Nominal GDP. The Banque de France provides External Debt in EUR based on BPM6. National Institute of Statistics and Economic Studies provides Nominal GDP in EUR. External Debt prior to 2008 is based on BPM5, sourced from the Banque de France.


Related information about France External Debt: % of GDP

• In the latest reports of France, Current Account recorded a deficit of 3.4 USD bn in May 2024.
• Foreign Direct Investment (FDI) fell by 111.3 USD mn in May 2024.
• France Direct Investment Abroad expanded by 2.2 USD bn in May 2024.
• Its Foreign Portfolio Investment increased by 132.8 USD bn in Mar 2024.
• The country's External Debt reached 7,806,404.8 in Mar 2024.
• The country's Nominal GDP was reported at 736.3 USD bn in Mar 2023.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The statistic shows the national debt of France from 2019 to 2022, with projections up until 2029. In 2022, the national debt of France amounted to around 3.19 trillion U.S. dollars. For comparison, the Greek debt amounted to approximately 392.27 billion euros that same year. French national debt and developments in taxationFrance currently has one of the highest national debt levels of any of the world’s nations. Debt in the European Union’s second-largest economy is currently at around 97 percent of GDP. The cost of interest on the country’s debt alone comes in at over 1,600 euros per second; every man, woman, and child in France, of which there are 65.3 million in total, takes a share of just under 28 thousand euros of the debt.On 6th May 2012, the incumbent French President was defeated by François Hollande, leader of the French Socialist Party. The new President vowed to develop and change the tax system of France, announcing wide-ranging economic policies in a bid to balance the nation’s budget and right what he considered to be social wrongs. He pledged and supported the separation of lending and investment banks, as well as proposing sweeping changes to the French tax system. The introduction of the measure of capping tax loopholes at a maximum of ten thousand euros per year and questioning the solidarity tax on wealth, the annual direct wealth tax on those with assets above 1.3 million, were also part of Hollande’s proposals. The President has also signaled his intention to implement an income tax rate of 75 percent on revenue earned above one million euros per year. He stated the allocation of the revenue from this tax would be used to develop the deprived suburbs and to balance the nation's budget by 2017. France is a country brimming with big business and millionaires. The nation is home to the most millionaires in Europe; 2.6 million in total.

Key information about France Private Debt: % of Nominal GDP

• France Private Debt accounted for 106.58 % of its Nominal GDP in Dec 2024, compared with a ratio of 106.59 % in the previous quarter
• France Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 1980 to Dec 2024, with an average share of 76.85 %
• The data reached an all-time high of 122.21 % in Mar 2021 and a record low of 65.91 % in Dec 1998

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. The Banque de France provides Private Debt in EUR. Eurostat provides Nominal GDP in EUR.

This statistic shows the percentage change on the previous year for general government consolidated gross debt as a share of gross domestic product (GDP) in France from 2014 to 2020. In 2020, the variation was much greater than in previous years, with a variation of almost 12 percent, resulting from the COVID-19 crisis and the budgetary, economic and financial efforts made by the State to support citizens, institutions and private companies.

France FR: Gross Public Debt: % of GDP: General Government: Debt Securities and Loans data was reported at 96.018 % in Mar 2018. This records an increase from the previous number of 95.169 % for Dec 2017. France FR: Gross Public Debt: % of GDP: General Government: Debt Securities and Loans data is updated quarterly, averaging 72.222 % from Mar 2000 (Median) to Mar 2018, with 73 observations. The data reached an all-time high of 97.638 % in Jun 2017 and a record low of 55.794 % in Mar 2001. France FR: Gross Public Debt: % of GDP: General Government: Debt Securities and Loans data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s France – Table FR.World Bank: QPSD: Gross Public Debt: % of GDP: General Government.

Several European Union member states have struggled with high levels of public debt in the period since the Global Financial Crisis. In particular, Greece's debt skyrocketed during the recession which followed the crisis, culminating in a period of intense political and social upheaval during the early 2010s in which the country came close to having to leave the Euro single currency zone. Along with Italy, Portugal, Spain and France, Greece is part of a group of EU members who have seen their debt soar to a value worth over one year's aggregate production in their economies (i.e. 100% of GDP) due to slow economic growth coupled with increasing public liabilities due to the need to provide emergency support to their domestic financial systems. Belgium, while also a part of this group of high-debt ratio countries has quite different circumstances, as its debt ratio has in fact fallen since the 1990s, remaining 20 percent below its 1995 level, even after a spike due to the COVID-19 pandemic.

This dataset provides values for PRIVATE DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

France FR: Gross Public Debt: % of GDP: General Government: Long Term: Over 1 Year data was reported at 87.645 % in Mar 2018. This records an increase from the previous number of 87.415 % for Dec 2017. France FR: Gross Public Debt: % of GDP: General Government: Long Term: Over 1 Year data is updated quarterly, averaging 61.674 % from Mar 2000 (Median) to Mar 2018, with 73 observations. The data reached an all-time high of 88.515 % in Jun 2017 and a record low of 52.260 % in Mar 2001. France FR: Gross Public Debt: % of GDP: General Government: Long Term: Over 1 Year data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s France – Table FR.World Bank: QPSD: Gross Public Debt: % of GDP: General Government.

Government debt as a share of gross domestic product has risen for almost all of Europe's largest economies since the mid-20th century. While until the 1970s it was common for European countries to have debt levels of less than 20 percent of their GDP, with the onset of economic crises related to international financial instability and oil price shocks, the long-term slowdown of economic growth in Europe, and the substantial public spending burdens which states had incurred due to the expansion of welfare and social services, European governments began to amass significant amounts of debt.

Which European countries are the most indebted? Italy stands out as the country in Europe which has experienced the largest secular increase in its government debt level, with the southern European country having debt worth 1.4 times its GDP in 2022. Spain, the United Kingdom, and France have also experienced long-run increase in their debt levels to between 90 and 100 percent in 2022. Germany and Turkey, on the other hand, have experienced more gradual increases in their public debt, with both countries having debt worth less than half their GDP. Russia stands as an outlier, due to the fact that its debt level has fallen dramatically since the 1990s. After the eastern European country's transition from communism and particularly after the financial crisis it experienced in 1998, the Russian state has severely cut back on public expenditure, while also having little need to borrow due to the state ownership of the country's vast natural resources.

Italy recorded a Government Debt to GDP of 135.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - Italy Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.