Next year, France will need to borrow a record amount – 310 billion euros – to cover all its expenses, Le Figaro reports.
The French Treasury announced that hundreds of billions of euros will need to be borrowed to finance the budget deficit and refinance debts, setting a new record.
This is 10 billion more than the previous borrowings of 300 billion euros, which were also a record.
Approximately 175.8 billion of the total will be allocated to repay old medium- and long-term debts, compared to 168 billion this year.
Borrowings will amount to about 10.1% of the country's GDP in 2026, which is still less than the peak of 11.2% in 2020, at the height of the coronavirus pandemic.
France's debts already reach 115.6% of GDP.
