France's national debt has reached a critical level. Former Prime Minister Edouard Philippe stated that solving this problem requires not only cutting budget spending but also uniting the efforts of all citizens.
"Debt is simply a disaster," Philippe said in a speech to his supporters in Paris. He criticized rivals from both right and left for underestimating the problem.
Philippe plans to eliminate the deficit not only by reducing spending but also by sharing responsibility across all segments of society. "I will require fair, joint, and time-distributed efforts," he emphasized.
The former PM pledged to protect workers and not impose additional taxes on companies that already pay enough. He also stressed the need to cut social spending and scrap some tax breaks.
According to France's National Institute of Statistics (Insee), public debt has exceeded 3.5 trillion euros - 117.5% of GDP. Interest payments on debt are projected to reach 59 billion euros in 2026 and 77 billion euros in 2028.
