France is facing the need for budget cuts to address its rising deficit, with plans to worsen the 2024 deficit target to 5%-5.1% from 4.4%. The French Finance Ministry projects a debt/GDP ratio of 112.3% in 2024, increasing to 113.1% in 2025 and 112.9% in 2026, before decreasing to 112% in 2027. The budget deficit is expected to be 5.1% in 2024 and 4.1% in 2025. This situation poses a risk to France's credit ratings and could impact President Emmanuel Macron's government.
Government debt to GDP ratio in selected countries, 2023: ๐ฌ๐ท Greece: 168% ๐ฎ๐น Italy: 143% ๐ซ๐ท France: 110% ๐ช๐ธ Spain: 107% ๐ง๐ช Belgium: 106% ๐ฌ๐ง UK: 104% ๐ฆ๐น Austria: 74% ๐ฉ๐ช Germany: 65% ๐ต๐ฑ Poland: 49% ๐ณ๐ฑ Netherlands: 49% ๐ฎ๐ช Ireland: 42% ๐จ๐ญ Switzerland: 39% ๐ณ๐ด Norway: 37% ๐น๐ท Tรผrkiye:โฆ
2024 ๐ฌ๐ง UK debt: $3.75 trillion ๐ฌ๐ง UK GDP: $3.46 trillion 2023 ๐ฌ๐ง UK debt: $3.37 trillion ๐ฌ๐ง UK GDP: $3.16 trillion
Government debt as share of GDP, 2023: ๐บ๐ธ United States: 126.9% ๐จ๐ฆ Canada: 103.3% ๐ง๐ท Brazil: 90.3% ๐ฆ๐ท Argentina: 79.9% ๐จ๐ด Colombia: 55.1% ๐ฒ๐ฝ Mexico: 54.7% ๐จ๐ฑ Chile: 41.2%
Government debt as share of GDP, 2023: ๐ฌ๐ท Greece: 168% ๐ฎ๐น Italy: 143% ๐ซ๐ท France: 110% ๐ช๐ธ Spain: 107% ๐ง๐ช Belgium: 106% ๐ฌ๐ง UK: 104% ๐ฆ๐น Austria: 74% ๐ฉ๐ช Germany: 65% ๐ต๐ฑ Poland: 49% ๐ณ๐ฑ Netherlands: 49% ๐ฎ๐ช Ireland: 42% ๐จ๐ญ Switzerland: 39% ๐ณ๐ด Norway: 37% ๐น๐ท Turkey: 34% ๐ท๐บ Russia: 21%
Government debt as share of GDP, 2023. ๐บ๐ธ United States: 126.9% ๐จ๐ฆ Canada: 103.3% ๐ง๐ท Brazil: 90.3% ๐ฆ๐ท Argentina: 79.9% ๐จ๐ด Colombia: 55.1% ๐ฒ๐ฝ Mexico: 54.7% ๐จ๐ฑ Chile: 41.2%
Household debt as share of GDP. ๐จ๐ฆ Canada: 103% ๐ฌ๐ง UK: 80% ๐บ๐ธ US: 73% ๐ซ๐ท France: 63% ๐จ๐ณ China: 62% ๐ฉ๐ช Germany: 52% ๐ช๐ธ Spain: 48% ๐ฎ๐น Italy: 39% ๐ฎ๐ณ India: 37% ๐ฟ๐ฆ South Africa: 34% ๐ง๐ท Brazil: 34% ๐ธ๐ฆ Saudi: 32% ๐ท๐บ Russia: 22% ๐ฎ๐ฉ Indonesia: 16% ๐ฒ๐ฝ Mexico: 16% ๐น๐ท Turkey: 11%
Government debt as share of GDP, 2023. ๐ฌ๐ท Greece: 168% ๐ฎ๐น Italy: 143% ๐ซ๐ท France: 110% ๐ช๐ธ Spain: 107% ๐ง๐ช Belgium: 106% ๐ฌ๐ง UK: 104% ๐ฆ๐น Austria: 74% ๐ฉ๐ช Germany: 65% ๐ต๐ฑ Poland: 49% ๐ณ๐ฑ Netherlands: 49% ๐ฎ๐ช Ireland: 42% ๐จ๐ญ Switzerland: 39% ๐ณ๐ด Norway: 37% ๐น๐ท Turkey: 34% ๐ท๐บ Russia: 21%
Government debt as share of GDP 2000 ๐ฎ๐ฉ Indonesia: 87% ๐ง๐ท Brazil: 65% 2024 ๐ฎ๐ฉ Indonesia: 38% ๐ง๐ท Brazil: 90%
๐ด FRANCE SEES BUDGET DEFICIT AT 5.1% IN 2024 AND 4.1% IN 2025.
๐ด FRENCH FINANCE MINISTRY SEES DEBT/GDP RATIO OF 112.3% IN 2024, 113.1% IN 2025, 112.9% IN 2026, 112% IN 2027.
After decades of spending beyond its means, France must soon show how it will avoid a budget crunch that is putting its credit ratings at risk and could even lead to the downfall of President Emmanuel Macronโs government. https://t.co/TtjcL4kEIr
๐ซ๐ท France - Anyone remember the "Excessive Debt Procedure" and "Stability Growth Pact"? Seems some sort of budget cuts are going to have to be implemented somewhere down the line. Practically zero chance France will return below the 3% by the targeted 2027. https://t.co/apk65CbvyE
๐ซ๐ท #FRANCE TO WORSEN 2024 DEFICIT TARGET TO 5%-5.1% FROM 4.4%: LES ECHOS https://t.co/GSL7wZasuO
โ ๏ธ ANALYSIS-THIS WILL HURT: FRANCE BRACES FOR BUDGET CUTS Full Story โ https://t.co/YaJdxGnM2Y After decades of spending beyond its means, France must in coming weeks show how it will avoid a budget crunch that is putting its credit ratings at risk and could even lead to theโฆ https://t.co/mS0P6tAvAT