Economy. First-quarter public debt revised slightly downwards
France's debt in the first quarter of 2025, estimated at 3,345.8 billion euros by INSEE at the end of June, was revised downwards to 3,345.4 billion on Tuesday.
France's public debt reached €3,345.4 billion at the end of the first quarter of 2025, representing 113.9% of gross domestic product (GDP), INSEE reported on Tuesday, correcting figures published at the end of June. On June 26, the National Institute of Statistics and Economic Studies (INSEE) had reported a slightly higher debt level of €3,345.8 billion, representing 114% of GDP.
"Following discussions with Eurostat, the amount of long-term loans guaranteed by the State was corrected" on Tuesday, he explained. Compared to the fourth quarter of 2024, when it reached 113.2% of GDP, public debt has increased by €40.2 billion.
Bayrou expected at the turning pointThis correction comes as Prime Minister François Bayrou unveils on Tuesday the main guidelines of the 2026 budget , which aims for a budgetary effort of 40 billion euros in order to reduce France's heavy public deficit, expected at 5.4% of GDP in 2025 and 4.6% in 2026.
In the first quarter of 2025, the State's contribution to public debt increased by €36.4 billion to €2,723.4 billion, while that of various central government agencies fell by €0.1 billion, according to INSEE. The debt of social security administrations also increased (+€3.3 billion), as did that of local government (+€0.6 billion).
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