France faces record debt as €54B cuts fuel protests and school unrest

France's public debt is projected to reach an all-time high of 119.3% of gross domestic product this year, rising to 121.7% next year, according to Finance Ministry estimates. The government is seeking €54 billion in cuts for its 2027 budget, which has been submitted to parliament. Financial markets have already reacted to the deteriorating fiscal situation, with a bond yield approaching 5% for the sluggish economy.