French debt just shy of 2trn in 2014
French public debt is expected to rise to 95.1 per cent of GDP by the end of 2014.
French public debt will "rise to 95.1 per cent of GDP at the end of 2014, [...] to about 1.95trn," reveals French daily Le Figaro a week before the government is scheduled to unveil its budget for 2014. The debt represents "a bill of €30,000 per French person," the paper says.
The figure is not only due to public spending, explains Le Figaro, which points out that -
... the sum also includes the financial bailout programmes for the euro zone. These have already had an impact of €48bn on the 2012 debt. The bill [for the bailouts] will continue to rise to €62.7bn by the end of 2014.
This record-breaking forecast, notes the paper, is "much higher than the 94.3 per cent figure sent by Paris to Brussels within the framework of the stability programme last spring". Eurogroup is scheduled to review national budgets on November 22.
Read this article in French.