The federal government debt reached 500.534 billion euros at the end of March, as reported by the Debt Agency. This is a significant milestone, as it marks the first time that federal debt has surpassed half a trillion euros. In terms of gross debt, the federal government debt has exceeded 500 billion euros before, but this gross amount includes factors such as investments.
Jean Deboutte, director of the Debt Agency, stated that the increase in debt is proceeding as planned. He explained that it is expected that by 2024, the federal government debt will increase by 21.5 billion euros. Last year, the increase was 27.4 billion euros. It is important to note that this information pertains solely to the federal government debt and does not include the debts of all governments in the country combined.
In March alone, 8.10 billion euros in debt was added to the already substantial figure. Despite this increase, Deboutte remains optimistic about the future of the country’s finances. He believes that with careful management and responsible spending habits, it is possible to avoid a financial crisis and continue on a path towards economic growth and prosperity for all citizens.
It’s worth noting that when considering all government debts in the country combined, they have already exceeded 600 billion euros.
Overall, while there are concerns about rising public debt levels in many countries around the world, it’s clear that France has managed its finances relatively well thus far compared to others.
However, there are also concerns about how long France can sustain such high levels of public spending without causing an economic slowdown or inflationary pressures in certain sectors of society.
In conclusion, while there are no easy solutions to managing public debt levels over time without impacting economic growth and social stability in some way or another