Coronavirus: French public debt now forecast at 119.8% of GDP in 2020

The measures taken to support economic activity in the face of the second lockdown will result in a further worsening of French public debt, which should reach 119.8% of GDP in 2020, Economy Minister Bruno Le Maire said on Friday. .

"We had forecast for 2020 a debt level of 117.5% of GDP. This figure will rise to 119.8%," said Bruno Le Maire in an interview with Le

, defending expenses "which will allow us to bounce back very quickly and accelerate the transformation of the French economy to make it more competitive ".

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15 billion euros in November

These additional expenses, induced by a strengthening of support measures for businesses, will reach 15 billion euros in November alone, Bruno Le Maire had already announced the day before.

In total, 20 billion euros will be released to deal with the crisis, over a period of eight weeks, Prime Minister Jean Castex for his part indicated.

They will be added to the nearly 470 billion euros mobilized since March.

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-11% for the GDP

All these measures have already resulted in a massive increase in deficits and debt, which in June reached 114.1% of gross domestic product, a jump of 12.7 points in three months, unprecedented in the annals of statistics of INSEE.

On Friday morning, the government had indicated that it expected that the reconfinement entered into force will cause an even more serious recession than expected so far: -11% for GDP, against -10% previously projected.