France's public debt surpasses €3.5 trillion for first time

France's public debt reached a record high in the first quarter of 2026, exceeding the €3.5 trillion mark for the first time, according to data released by the country's National Institute of Statistics and Economic Studies (INSEE).

The report shows that public debt rose by €75.6 billion between January and March, reaching €3.536 trillion. As a share of gross domestic product (GDP), debt climbed to 117.5 per cent, only slightly below the record level of 117.8 per cent recorded in 2021.

The increase in public debt was accompanied by a rise in the volume of cash resources held by public administration bodies.

“In the first quarter of 2026, the state's share of total public debt increased by €66.3 billion, following a decline of €22.6 billion in the previous quarter,” the report noted.