French Prime Minister François Bayrou, with his chief of staff, Pierre-Emmanuel Portheret and his deputy chief of staff, Adeline Savy, on August 25, 2025. JULIEN MUGUET FOR LE MONDE
“Our country is in danger because we are on the verge of becoming over-indebted.” With these dramatic words, Prime Minister François Bayrou described France’s situation during his August 25 press conference. “An immediate danger hangs over us. We must face it today, without delay. Otherwise, the future will be closed to us, and our present situation will worsen,” the prime minister said. He then announced that he would seek a vote of confidence from MPs on September 8, ahead of the 2026 budget marathon. How did France get here, and is it a cause for concern?
What is the current state of France’s debt?
According to the French National Institute of Statistics and Economic Studies (INSEE), France’s debt stood at €3.345 trillion at the end of the first quarter of 2025. This figure has increased significantly over the past two decades. From 60% of the gross domestic product (GDP) at the start of the 2000s, it crossed the 100% threshold in 2020 due to the pandemic and has continued to rise, reaching 113.9% of GDP this year.
The evolution of French debt
In trillions
As % of GDP
Graph using data, use accessibility options to view raw data or enhance contrast.
In trillions
Graph using data, use accessibility options to view raw data or enhance contrast.
The data refers systematically to the level of debt at the end of each year. For 2025, however, the latest available figures are from the end of the first quarter.
As a % of GDP
Graph using data, use accessibility options to view raw data or enhance contrast.
The data refers systematically to the level of debt at the end of each year. For 2025, however, the latest available figures are from the end of the first quarter.
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