France’s public finances are in a catastrophic state. The country has accumulated a debt of 900 billion euros since 2017, and the debt burden will increase to 57 billion euros this year, Member of the European Parliament from France Geoffroy Didier wrote in his address to the European Commission, SİA informs.
He also warned that if the agencies downgraded France, it would worsen confidence in President Emmanuel Macron and his government.
The parliamentarian also noted that the Finance Committee of the French Senate checked the Ministry of Economy and criticized the French government for “hiding information.”
The committee warned that if the deficit continues to spiral out of government control, it could reach levels of 5.7% and 5.9% of GDP in 2024 and 2025, respectively. However, according to official statistics submitted to the Commission, its figures were at 4.4% and 3.7%.
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