~/budget-fr/debt Maastricht debt · interest charge · ratings
France's public debt, and its cost
Debt is the stock: the sum of past deficits. On the Maastricht basis it reaches 115.6% of GDP end-2025 (€3,460.5bn), far above the 60% reference threshold. Its cost is climbing: the interest charge went from €58bn to €64.7bn in a year and could approach €100bn a year by 2029, per the Court of Auditors. Long maturity (~8.5 years) cushions the rise in rates, which feeds through issue by issue.
Maastricht public debt (% of GDP)
INSEE (March 2026). Treaty reference threshold: 60%.
Debt 2024, European comparison (% of GDP)
Eurostat, notification of 21 October 2025.
Sovereign ratings
Primary press releases 2025-2026. 10-yr OAT 4.07% · avg. maturity ~8.5 yrs.
Stabilising the debt ratio implies an effort of about 3 points of GDP (~€90bn); meanwhile, the interest charge is on track to become the State's largest item.