France's Finance Ministry has said that the country's debt is expected to reach a record high of 119.3% of output in 2026, with a projected debt-to-GDP ratio of 121.7% in 2027. In 2025, France's debt-to-GDP ratio was 115.7%, and it was below 100% in 2019. The ministry added it expects to end the year with a budget deficit of 5.4%.