France’s public debt has ballooned to a document €3.4 trillion, official information confirmed Thursday, piling strain on new Prime Minister Sébastien Lecornu as he confronts protests and political turmoil.
Lecornu was appointed by President Emmanuel Macron earlier this month to succeed François Bayrou, who was ousted by parliament in a struggle over his austerity finances after simply 9 months on the job.
Figures from the INSEE statistics company present former defence minister Lecornu now faces a debt that amounted to 115.6 % of France’s gross home product (GDP) within the second quarter.
The debt is up from €3.3 trillion in March, equal to 113.9 % of GDP.
Lecornu has but to type a brand new authorities and should ship a finances proposal to parliament by mid-October.
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Unions have introduced recent demonstrations for October 2nd after tons of of 1000’s of individuals protested throughout France final week over Macron’s austerity plans.
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Lecornu, Macron’s seventh head of presidency since 2017, has vowed a break from the previous in a bid to defuse the political disaster.
He has tried to calm anger by promising to abolish life-long privileges for former prime ministers and Bayrou’s plan to scrap two public holidays.
Bayrou had proposed a sequence of measures he stated would save €44 billion to curb France’s excessive debt.
