French 2011 debt outlook raised to 84.6% of output

21st June 2011, Comments 0 comments

The French public debt is set to be 85.4 percent of output this year from 84.6 percent expected previously, a budget ministry document received by AFP showed on Tuesday.

The public debt would then peak at 86.9 percent in 2012, the document estimated. EU and eurozone rules say that the debt should not exceed 60 percent of output, but many members are far above this limit.

The government had estimated previously that the debt would amount to 84.6 percent of gross domestic product this year and 86.0 percent next year.

The national statistics institute INSEE recalculated in May the debt for last year at 82.3 percent of output instead of 81.7 percent announced previously.

© 2011 AFP

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