French National Debt Hits Record High Amid New Prime Minister Transition

France's national debt has risen to a record high level.

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French National Debt Hits Record High Amid New Prime Minister Transition
Photo: Christophe Ena/AP/TT

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The latest figures show that the debt amounts to 3.4 billion euro, which corresponds to almost 37.5 billion Swedish kronor. It also corresponds to 115.6 percent of the country's GDP during the second quarter of the year.

This is announced a few weeks after France got a new prime minister. President Emmanuel Macron appointed Sébastien Lecornu to the pressured position after François Bayrou was dismissed by the parliament.

The parliament expressed no confidence in Bayrou because his government carried out a number of disputed savings. He managed to be prime minister for nine months. The replacement, the former defense minister Lecornu, has not yet formed a government and needs to submit a budget proposal to the parliament in mid-October. There, the president's middle minority is challenged from both the right and the left.

On October 2, a broad French trade union has called for new demonstrations to show dissatisfaction with expected austerity measures.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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