France's quarterly public debt increases to 95.1% of GDP

GMT 21:14 2014 Tuesday ,30 September

Arab Today, arab today France's quarterly public debt increases to 95.1% of GDP

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Paris - XINHUA

France reported wider public debt over the second quarter of 2014 to two trillion euros (2.53 trillion U.S. dollars), or 95.1 percent of gross domestic product (GDP), official data showed on Tuesday.
According to Insee statistics bureau, the country's debt increased by 28.7 billion euros, pulling the debt-to-GDP ratio up by 1.1 percentage points from the first quarter this year.
The value of the state's net debt increased by 35.2 billion euros to stand at 1.61 trillion euros, while the second quarter's cost of security funds was down by 3.9 billion euros, the report added.
"The government policy is set to stop the growth of debt with fiscal consolidation by saving on the one hand, and via a growth strategy on the other hand," French Finance Minister Michel Sapin was quoted as saying by local media on the eve of the presentation of 2015 budget draft to the government.

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