French debt reaches 119 percent of GDP as budget deficit concerns mount

France's national statistics agency Insee reported Tuesday that public debt reached nearly €3.6 trillion, or 119 percent of gross domestic product, at the end of June. Prime Minister Sébastien Lecornu plans to propose €54 billion in savings for the 2027 budget to lower next year's deficit to 5 percent of GDP, though growth limitations and energy prices threaten targets.