France's public debt is expected to reach historic levels, with the Ministry of Economy and Finance projecting it will reach 119.3% of the country's gross domestic product (GDP) in 2026 and 121.7% in 2027. These figures, according to data from the National Institute of Statistics and Economic Studies (Insee), mark the highest debt-to-GDP ratio since 1995. Public debt refers to the total amount of money a government owes to creditors, and it is often expressed as a percentage of the country's economic output to provide a clearer picture of its financial burden. The rise in debt is primarily due to a high budget deficit, which occurs when government spending exceeds revenue. The Ministry explained this situation following the submission of the 2027 budget plan to the High Council of Public Finance (HCFP), an independent body responsible for evaluating the credibility of the government's economic forecasts and financial strategies. The HCFP's role is to ensure that the government's financial plans are realistic and sustainable over the long term. As of the first quarter of 2026, France's public debt stood at 117.5% of GDP, the highest among euro zone countries, although still below the levels seen in Greece and Italy, which reported debt-to-GDP ratios of 137% and 137 to 139%, respectively. At that time, France's total debt amounted to 3,536.1 billion euros, highlighting the significant financial challenge the country faces. This growing debt raises concerns about France's long-term economic stability and its ability to manage public finances effectively. High levels of public debt can lead to increased borrowing costs, reduced investor confidence, and potential economic constraints in the future. As a result, the government and financial experts will closely monitor the trajectory of France's debt and its impact on the broader economy.