EXPLAINED: France's Debt Hits 48-Year High; Why Paris Faces €54 Billion In Cuts | Times Now World

France's public debt is projected to reach 119.3% of GDP in 2026, its highest level since 1978, as persistent budget deficits put increasing pressure on the country's finances. The deficit is forecast at 5.4% of GDP this year, well above the European Union's 3% reference limit. Prime Minister Sébastien Lecornu has proposed €54 billion in spending adjustments and cuts for 2027, while debt could rise to 121.7% of GDP next year. With borrowing costs, weaker growth and higher energy prices adding pressure, France faces a difficult fiscal challenge ahead of the 2027 presidential election. #france #francedebt #franceeconomy #debtcrisis #europe #europeanunion #eurozone #paris #fiscalcrisis #budgetcrisis #eu #economy #publicdebt #europeanpolitics #lecornu #globalnews #geopolitics #timesnowworld Stay connected with Times Now World for real-time global news and analysis: Read full coverage: https://www.timesnownews.com/world Instagram: https://www.instagram.com/timesnow.world Follow us on X: https://x.com/TimesNow_World #timesnowworld #worldnews #breakingnews