The general rapporteur of the Budget in the National Assembly, Laurent Saint-Martin (LREM), is working on the fate of the public debt which must reach, according to the latest forecasts, 115% of GDP in 2020, as part of a “ flash mission By the end of June.
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“ In this historic coronavirus crisis, the French State has chosen to use borrowing and debt to contain the economic impact of the health crisis. This necessary choice will affect the public finances of our country over time , ”said the deputy for Val-de-Marne in a press release.
The report which he will deliver in a few weeks, after a series of hearings, " should make it possible to draw up a technical inventory of the public debt, its stakes, its management " so that " Parliament is able to s 'appropriate the subject and debate it '. This " flash mission " was entrusted to him by the office of the Assembly's finance committee, chaired by Eric Woerth (LR).
The last amending budget for 2020 includes a forecast of contraction of the gross domestic product (GDP) of 8%, a deficit of 9% of the GDP and a public debt of 115% of the GDP. Far from the European rules which cap the deficit at 3% and the debt at 60% of GDP.
" We are in the amount of deficit and debt never reached since the Second World War ", according to the Minister of Public Accounts Gérald Darmanin, according to whom " France continues to be able to borrow in satisfactory conditions (...) with low rates ”.
Ideas flourish on debt management, especially at LFI which advocates a buyout of country debts by the European Central Bank or their conversion into perpetual debt.