France’s Debt Burden Reaches 97.5% of GDP

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The FINANCIAL — France’s public debt jumped in the first quarter of the year, driven higher by social security and central state spending, according to Nasdaq.

France’s public debt burden rose 51.6 billion euros ($57.2 billion) in the first quarter to EUR2,089 billion, French statistics agency Insee said. That total represents 97.5% of gross domestic product, compared with 95.6% in the fourth quarter of 2014.

The central state’s debt rose EUR38.9 billion in the first quarter and the debt of the social security system rose EUR15.8 billion, Insee said.

 

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