France's ​debt is expected to reach a record high of 119.3 per cent of output ??in 2026, with a projected debt-to-GDP ratio of 121.7 per cent in 2027, the finance ministry said on Saturday, in the latest ‌indication of the country's deteriorating public ​finances. 

The finance ministry ​made the projection in a declaration to the High Council ​of Public Finances, the body tasked with evaluating revenue and expenditure forecasts in the government's budget proposal. In 2025, France's debt-to-GDP ratio was 115.7 per cent , and it was below 100 per cent ​in 2019, according to government data. 

The ministry also ‌said it expects to end the year with a budget ​deficit of 5.4 per cent. Prime Minister Sebastien Lecornu said on Thursday he expected the 2026 deficit to be well below 5.5 per cent. 

Lecornu has ‌announced plans to ​include a €54 billion ($62 billion) savings ‌drive in his 2027 budget to stop the ‌deficit spiralling ??out of control, but he faces a tough ​task to push austerity measures through a deeply divided parliament amid mounting pressure from voters over the ​cost of living.