France's public debt hits 101 pct of GDP in Q1

Source: Xinhua| 2020-06-19 19:34:12|Editor: huaxia

PARIS, June 19 (Xinhua) -- France's public debt hit 2,438.5 billion euros (2,731.12 billion U.S. dollars) in the first quarter (Q1) this year, up by 58.4 billion euros from the previous quarter, the national statistics bureau INSEE said Friday.

The public debt accounted for 101.2 percent of gross domestic product (GDP), 3.1 percentage points higher than Q4 2019, the highest increase since Q2 2019, said INSEE in its quarterly report.

For the January-March period, the state's contribution to the debt increased by 35.1 billion euros, mainly due to long-term negotiable debt, and that of local government rose to a lesser extent, it said.

The debt of social security funds went up by 8.7 billion euros to stand at 201.8 billion euros as the government has adopted measures -- financing short-time working and deferring payment of social security contributions in particular -- to support businesses and households during the health crisis, it added. (1 euro = 1.12 U.S. dollars) Enditem

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