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France Debt to GDP Ratio

France's government debt to GDP ratio rose to 113.0% in 2024, up from 109.8% in 2023. This increase stems from a wider general government deficit of 5.8% of GDP in 2024, compared to 5.4% in 2023. Expenditure growth surpassing GDP growth and higher interest payments fueled this rise. Tax revenues lagged GDP growth because economic expansion relied on exports and public consumption, not domestic spending. The compulsory tax rate also fell to 42.8% of GDP. France's record low government debt to GDP was 20.7% in 1980 and record high was 114.9% in 2020.

Yearly Historical Data (1980-2024)

(in %)
Year Debt to GDP Ratio
2024 113%
2023 110%
2022 111.4%
2021 113.1%
2020 114.9%
2019 97.9%
2018 98.2%
2017 98.5%
2016 98%
2015 97.1%
2014 96.3%
2013 94.7%
2012 91.7%
2011 88.9%
2010 86.3%
2009 84%
2008 69.7%
2007 65.4%
2006 65.3%
2005 68%
2004 66.6%
2003 65%
2002 60.9%
2001 59%
2000 59.5%
1999 61.2%
1998 61.8%
1997 61.8%
1996 60.3%
1995 57.6%
1994 49.4%
1993 46.2%
1992 39.7%
1991 36%
1990 35.2%
1989 34%
1988 33.2%
1987 33.3%
1986 31.1%
1985 30.6%
1984 29.1%
1983 26.7%
1982 25.3%
1981 22%
1980 20.7%
France Debt to GDP Ratio : Definition
France's government debt to GDP shows its debt relative to its economic output. It's calculated by dividing total government debt by GDP. A higher ratio suggests greater difficulty repaying debt.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 0.1% -1% Dec'24
Private Credit (% GDP) 107.53% 112.73% 2024