Public debt: France has crossed the threshold of EUR 2 000 000 000 000 – Le Parisien

Public debt: France has crossed the threshold of EUR 2 000 000 000 000 – Le Parisien

<- Hard dé e: 0.043338060379028 sec -> The public debt of France for the first time exceed the symbolic threshold of 2,000 billion. According to figures released Wednesday by INSEE, it stood at EUR 2,023.7 billion at the end of the second quarter against the end of March 1985.9 billion, an increase of € 28.7 billion .

In relation to the national wealth, the debt of France, as measured by the Maastricht criteria, according to Insee reached 95.1% of gross domestic product (GDP), 1.1 points from the same quarter precedent.
                         
                 
                  <- hard dé e: 0.027307033538818 sec -> She approaches the 100%, the United States in particular have already crossed. This increase is attributable to the State, whose contribution to the debt increased by € 35.2 billion, while that of social security funds and local government decreased.

Bercy ensures keeping “investor confidence”

In its latest forecast, the government expected a public debt to 95.1% of GDP only at the end of the year but these estimates have not been updated after lowering growth estimates and raising those on the deficit, on September 10.

After the publication of INSEE, the Government recalled having largely inherited this growing debt. The Ministry of Finance, it was noted that the debt has doubled between 2002 and 2012 from 930 to 1.860 billion euros, 600 billion between 2007 and 2012.

“The policy of (the current) government, which is based both on a fiscal consolidation with a savings program and growth strategy with the IECC and the Covenant of responsibility, should help stop the growth of debt, “says Bercy. “France and enjoys the confidence of investors, which allows the state but also to businesses and individuals to borrow at very low rates,” argues the ministry.

Despite his efforts economy, France recorded actually worsening its fiscal deficits, which requires him to borrow to balance its budgets, and therefore heavier debt. Such that Ci limits its negotiating capacity at European level. France has indeed convince its partners to close their eyes after having postponed for the third time, this time to 2017, its goal of a public deficit respecting European limit of 3% of GDP.