Public debt
Keep track of France’s public debt in real time.
France's public debt
All borrowings by general government
(state, central government agencies, local authorities and social security agencies)
Public debt increases by €6,000 per second (€518 millions daily). It would take €35 billion in budget surplus every year for a century to pay off the debt.
Public debt/GDP
Public debt-to-GDP ratio in real time
98.2% in 2019. France is the third-most indebted country in the EU, behind Greece (149.7%) and Italy (137.8%). EU average: 81.1%; eurozone average: 88.5%; Germany: 63.5%. France has seen continuous growth in its debt since 2010, when the debt-to-GDP ratio stood at 86.3% —an increase of 30 percentage points over 15 years — while the eurozone average has remained virtually stable.
Public debt/capita
Public debt per inhabitant
Per capita debt increases by €7,53 every day, or €2,750 per year.
DEBT INTEREST PAYMENTS
State expenditure on interest payments on the public debt in 2026
Amount forecast for the end of 2026: €74 billion (after €67 billion in 2025 and €58 billion in 2024). Interest on the debt exceeds the defence budget (excluding pensions) and represents the largest item in the state budget. Interest on the debt accounts for 5.35% of compulsory levies in France.
Public Debt/GDP
Real-Time Public Debt-to-GDP Ratio
98.2% in 2019. France is the third-most indebted country in the EU, behind Greece (149.7%) and Italy (137.8%). EU average: 81.1%; eurozone average: 88.5%; Germany: 63.5%. France has seen continuous growth in its debt since 2010, when the debt-to-GDP ratio stood at 86.3%—an increase of 30 percentage points over 15 years—while the eurozone average has remained virtually stable.
CALCULATE Interest on Debt
Annual interest amount based on the apparent interest rate on the debt (average repayment rate) in 2026
0
€ billion
STATE BORROWING NEEDS
Net borrowing requirements forecast by Agence France Trésor in 2026
0
,7
billion €
€310 billion in 2026, €300 billion in 2025, €285 billion in 2024
SHARE OF DEBT HELD BY NON-RESIDENTS
Share of foreign lenders holding tradable French government debt securities (as of Q1 2026)
0
%
compared with 40% in Germany, 30% in Italy, and 28% in the United Kingdom. Eighty-five percent of French debt is now held by foreign investors.
increase in debt (MACRON)
Rising public debt under Emmanuel Macron’s presidency since Q2 2017
Public debt stood at 2,280.6 billion on June 30, 2017.
increase in debt
(HOLLANDE PRESIDENCY)
Increase in public debt under the presidency of François Hollande (2012-2017)
0
.7
billion €
Debt stood at €1,922.6 bn at June 30, 2012 and €2,280.6 bn at June 30, 2017.
increase in debt
(SARKOZY PRESIDENCY)
Increase in public debt under Nicolas Sarkozy’s presidency (2007-2012)
0
billion €
Debt stood at €1,277.6 bn at June 30, 2007 and €1,922.6 bn at June 30, 2012. The severe global financial crisis of 2008-2009 led to a massive increase in the budget deficit.
DEBT, THE COVID CRISIS AND INFLATION
Increase in France’s public debt between the end of 2019 and the end of 2023
+
0
.7
points of GDP
Euro zone average: +4.5 points; EU average: +3.9 points
INTERESTS AMOUNT PAID SINCE 1974
Cumulative interest paid on France’s public debt since 1974
The interest paid on the public debt over the past 51 years represents almost half of the current stock of debt.
Sources : INSEE, ministère de l’Économie et des Finances, Banque de France, Agence France Trésor, Gouvernement (“Programme de stabilité 2024-2027”, avril 2024), Fondation IFRAP, Eurostat, Rapport sur la dette des administrations publiques, Assemblée nationale, octobre 2024. Loi de finances 2025, Cour des Comptes (“La situation des finances publiques début 2025).