France’s Budget Vote Tests Fiscal Plan as Debt Hits 119% of GDP

France’s National Assembly is scheduled to vote Oct. 20 on the revenue section of Prime Minister Sébastien Lecornu’s 2027 budget, testing its deficit plan as public debt stood at 119% of GDP at quarter-end. General-government debt under the Maastricht measure totaled €3.5955 trillion at the end of the second quarter of 2026, up €59.6 billion from the first quarter. The ratio was 119.0% of GDP in the second quarter. The vote adds another step to France’s budget fight over debt costs . The proposal targets a public deficit of 5.0% of GDP in 2027, compared with the government’s 5.4% projection for 2026. Both figures are forecasts, not final results. The plan also estimates public interest costs of €79.2 billion in 2026 and €91.2 billion in 2027.

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