The renewal of previous loans maturing next year weighs heavily on the country’s debt. The French state plans to raise 270 billion euros of debt on the financial markets in 2023, a record after 260 billion euros in 2021 and 2022, announced Agence France Trésor on Monday on the sidelines of the presentation of next year’s budget. In 2023, the State must find 305.5 billion euros, against 306 in 2022. If this figure looks stable, France will however no longer be able to count as much as in 2022 on the precautionary cash created in 2020 to cushion health shocks. The fall in the State deficit (which should be reduced from 172.6 in 2022 to 158.5 billion euros in 2023), is also offset by the need to renew previous loans which will reach maturing in 2023. “In 2023, as usual, we are repaying two-year, five-year and ten-year debt securities. We also reimburse a title at 15 years and a title at 30 years, ”detailed Cyril Rousseau, director general of Agence France Trésor, during a press briefing. To read also Bruno Le Maire and Gabriel Attal present a budget already criticized from all sides To find the money, the state will therefore issue 270 billion euros on the markets. Outstanding short-term securities (BTF) will also increase by 10 billion euros. Recalling that the State had “accumulated a lot of cash in 2020 to deal with health shocks and hard confinements which did not take place”, Cyril Rousseau specified that 18 billion euros will be drawn from this cash in 2023 against nearly 50 billion this year. Since the beginning of the year, the State has borrowed on average at a rate of 1.18% on the markets while it was negative (-0.05%) in 2021, which is therefore reflected in an increase in the public debt burden. This, including that linked to the Covid-19 crisis, should increase in 2023, according to the government’s budgetary details published on Monday on the occasion of the publication of the 2023 budget, approaching 60 billion euros. It should thus follow the first state budget, Education, which will amount to 60.2 billion euros in 2023. SEE ALSO – Pensions, budget… Follow the report of the Council of Ministers
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