Public debt in France reached 3,595.5 billion euros in the second quarter of 2024, or 119% of the country's gross domestic product (GDP), marking a new record, according to the French national statistics office, Insee. This increase comes after the debt rose by 59.6 billion euros between the end of the first quarter and the end of the second, following an additional 75.8 billion euro increase in the first quarter, when it stood at 117.5% of GDP. The debt is composed of obligations from the state, the Social Security system, and local public administrations, with some components rising and others declining. The state’s debt alone increased by 53 billion euros in the second quarter, following a 66.3 billion euro rise in the first quarter. Meanwhile, the debt of various central administration bodies decreased slightly by 0.1 billion euros, after a previous increase of 0.3 billion. This uneven distribution highlights the complexity of managing public finances across different levels of government. The French government has warned that public debt could reach 121.7% of GDP by 2027, which would be more than double the European Union’s recommended limit of 60%. This would be the highest level since Insee began tracking the statistic in 1978. At 3,595.5 billion euros, France’s public debt is a 13-digit number that underscores the scale of the financial challenge, with nearly 60 billion euros added in just three months. Despite the continued rise in debt, there are currently no signs of an economic crisis or default. However, the situation remains concerning, with no immediate indicators of improvement. The government faces mounting pressure to address the growing debt, which has implications for both domestic economic stability and France’s role within the European Union.