France's Rising Budget Debt Leaves No Room for Spending, Auditor Says

MOSCOW, July 15 (Bernama-Sputnik) — France has lost the budgetary room to finance education, security and ecological transition after letting its debt swell to 3.1 trillion euros ($3.4 trillion), the Court of Auditors said on Monday, Sputnik reported.

“We are already paying 52 billion euros for its repayment. We will pay 80 billion euros for its repayment in 2027. This means that there is no more room for maneuver to pay for education, justice, security and the ecological transition,” Pierre Moscovici declared on France Inter radio.

Moscovici, who chairs the national court of auditors, said the next government would inherit the debt and would have to get it under control. The debt is expected to reach 3.6 trillion euros by 2027.

— BERNAMA-SPUTNIK

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