France had borrowed 260 billion euros on the financial markets in 2021 and 2022.
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A figure that makes you dizzy. The French state intends to raise 270 billion euros of debt on the financial markets in 2023, announced Agence France Trésor on Monday, September 26, on the sidelines of the presentation of next year’s budget. The sum is a record, after 260 billion euros borrowed by the State in 2021 and 2022.
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In 2023, France must find 305.5 billion euros, against 306 in 2022. If the figure is stable, France can no longer count on the precautionary cash created in 2020. The fall in the State deficit (which is to be reduced from 172.6 in 2022 to 158.5 billion euros in 2023), is also offset by the need to renew previous loans which mature in 2023.
With the rise in interest rates initiated by central banks to contain inflation, the cost of “State financial commitments”i.e. its debt for the most part, has become more expensive and should exceed 60 billion euros in 2023. By 2025, the cost of France’s financial commitments should fall slightly to 58, 8 billion.