National debt ratio in France

The national debt ratio of France is a key figure . It is calculated as follows: France's national debt at the end of year X divided by the nominal gross domestic product (GDP) in year X times 100.

France's national debt ratio has been over 60 percent since 2003; this violates one of the EU convergence criteria (“Maastricht criteria”). As of March 31, 2015, the national debt was 2,089.4 billion euros and the national debt ratio of France was 97.5%.

Development since 2006

France's national debt ratio rose steadily from 2007 to 2013:

2006: 63.2% (national debt 1,171.2 billion euros at the end of 2006),
2007: 63.2% (government debt 1,230.5 billion euros at the end of 2007),
2008: 67.0% (government debt 1,337.6 billion euros at the end of 2008),
2009: 78.0% (government debt 1,512.1 billion euros at the end of 2009),
2010: 80.8% (government debt 1,615.3 billion euros at the end of 2010),
2011: 84.4% (national debt 1,738.5 billion euros at the end of 2011),
2012: 88.7% (government debt 1,855.4 billion euros at the end of 2012),
2013: 91.8% (government debt 1,939.7 billion euros at the end of 2013).

Factors for the high net new debt of the French governments (2007 to 2012 under President Nicolas Sarkozy , since the presidential election in May 2012 under François Hollande ) were a financial crisis , an economic crisis in 2009 (GDP fell by 2.94%) and the hope that to be able to stimulate the French economy with higher government spending and lower the high unemployment rate (→ deficit spending ). France thus repeatedly violated the Maastricht criterion, according to which the annual budget deficit may not exceed 3% of GDP. In 2012 it was 4.9 percent and in 2013 4.3 percent of GDP. In 2012, GDP rose by 0.33 percent, in 2013 by 0.36% and in 2014 by 1.16%.
The deficit spending apparently did not have the desired effect.

According to Eurostat, at the end of the 2nd quarter of 2015 the French government debt ratio was already 97.7% with an increased debt level of 2,105.7 billion euros. It is thus still above the average rates for the euro zone (92.2%) and for the European Union (87.8%, both as of June 30, 2015).

Graphical representation

forecast

According to the World Economic Outlook Database of the International Monetary Fund from October 2014, the national debt ratio in France is expected to reach a high of 99.0% in 2017 and to decrease somewhat in 2018 and 2019.

Web links

de.statista.com : France ranked 20th among the countries with the highest national debt in 2014

Individual evidence

↑ ^a ^b International Monetary Fund: World Economic Outlook Database, October 2014, General government gross debt (National currency, Percent of GDP) (Note: GDP (Gross domestic product) = BIP)
↑ FAZ.net September 19, 2015: France is losing its creditworthiness
↑ ^a ^b France: growth in real gross domestic product (GDP) from 2004 to 2015 (compared to the previous year)
↑ handelsblatt.com March 31, 2014: France clearly misses its deficit target
↑ ^a ^b Eurostat: Public debt in the euro area fell to 92.2% of GDP, press release of 23 October 2015, accessed on 26 October 2015.

[iwf-1] International Monetary Fund: World Economic Outlook Database, October 2014, General government gross debt (National currency, Percent of GDP) (Note: GDP (Gross domestic product) = BIP)

[2] FAZ.net September 19, 2015: France is losing its creditworthiness

[statistik_bip-3] France: growth in real gross domestic product (GDP) from 2004 to 2015 (compared to the previous year)

[4] sblatt.com March 31, 2014: France clearly misses its deficit target

[Eurostat-5] Eurostat: Public debt in the euro area fell to 92.2% of GDP, press release of 23 October 2015, accessed on 26 October 2015.