Budget. France plans to borrow 270 billion in 2023

Since the beginning of the year, the State has borrowed at an average rate of 1.18% compared to -0.05% in 2021.

The French State intends to raise 270,000 million euros of debt on the financial markets in 2023, a record after 260,000 million euros in 2021 and 2022, Agence France Trésor announced on Monday on the sidelines of the presentation of the Government’s budget. French. year.

In 2023, the State must find 305.5 billion euros, compared to 306 in 2022. If this figure seems stable, however, France will no longer be able to count as much as in 2022 on the preventive cash created in 2020 to cushion health crises.

descending deficit

The fall in the State deficit (which must be reduced from 172.6 in 2022 to 158,500 million euros in 2023), is also offset by the need to renew previous loans that will mature in 2023.

“In 2023, as usual, we are repaying two, five and 10-year debt securities. We are also repaying one 15-year and one 30-year bond,” said Cyril Rousseau, CEO of Agence France. Trésor, during a press conference.

To find the money, the State will issue 270,000 million euros in the markets. Outstanding short-term securities (BTF) will also increase by €10 billion.

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Rousseau recalled that the State had “accumulated a lot of cash in 2020 to face health crises and hard confinements that did not occur”, and specified that 18,000 million euros will be taken from this money in 2023 compared to almost 50,000 million this year . .

Since the beginning of the year, the State has borrowed on average at a rate of 1.18% in the markets, while in 2021 it was negative (-0.05%), which therefore translates into an increase in the burden of the public debt.

This, including that linked to the Covid-19 crisis, should increase in 2023, according to the Government budget data published on the occasion of the publication of the 2023 budget, approaching 60,000 million euros.

This is how the first State budget, Education, should continue, which will amount to 60,200 million[…]

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