France’s high public debt is on an increasingly unfavourable trajectory. It rose sharply after the 2008 Global Financial Crisis, increasing from around 65% of GDP in 2007 to about 100% between 2015 and 2019. It then surged to more than 115% in 2020 alone following the COVID-19 crisis. After falling back to 110% at the end of 2023, it began rising very rapidly again and without policy adjustment, could reach 200% by 2050. […]