With the precision of a Swiss clock, INSEE certified in its report published yesterday that after the health crisis, France has shifted into an economic and financial crisis, which will lead to a social crisis, already underway.
The figures published are just a foretaste of those at the end of the year, which predict a debt of 120% of GDP.
Brace for landing, fasten your seatbelts.
At the end of the first quarter of 2020, Maastricht public debt stood at €2,438.5 billion, an increase of €58.4 billion compared to the previous quarter. Expressed as a percentage of gross domestic product (GDP), it increased by 3.1 points, marking the largest rise since the second quarter of 2009. It stood at 101.2%.
Net public debt increased more moderately (+€45.7 billion) due to the growth of public administration cash reserves, and it stood at 91.9% of GDP.
