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French public debt will reach 3 trillion euros in a few weeks, according to the minister


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In August, French Economy and Finance Minister Bruno Le Maire said inflation in the country would not improve until early 2023.

France’s public debt will pass the 3 trillion euro (about $3 trillion) mark “in the coming weeks”, said Gabriel Attal, France’s Minister of Public Action and Accounts.

“In the coming weeks, we will exceed the 3000 billion euro debt mark. This year, debt service is costing us 18 billion more than expected,” Attal told the Journal du Dimanche.

According to the Minister, in 2023, servicing the debt will cost France 51.7 billion euros.

Earlier, France’s National Institute of Statistics and Economic Research (Insee) reported that the country’s public debt at the end of the first quarter of 2022 was 2,901.8 billion euros, or 114.5 % of GDP. The institute’s report notes that during this period, debt increased by 88.8 billion euros compared to previous indicators.

According to the report, such an increase was mainly caused by an increase in the debt of ministries (up by 64.8 billion euros), as well as social insurance structures (up by 25.6 billion euros). euros).



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