The French public debt will remain above 100% of the GDP for "ten years at least", estimated Sunday the first president of the Court of Auditors Pierre Moscovici, adding that the stake was to ensure that it remains "sustainable" .
“We will live for at least ten years with a public debt greater than 100% of GDP.
We are going to live for at least 5 years, 4 to 5 years, with budget deficits greater than 3% of GDP, ”said the former European commissioner invited to Radio J.
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France has spent lavishly since the spring of 2020 to face the health and economic crisis, with more than 86 billion euros disbursed to support businesses and the health sector.
Debt will swell further in 2021
The country should thus have ended the year 2020 with a debt of around 120% of GDP, which is expected to swell to 122.4% this year due to new spending to support the economy, the government predicts.
For the former socialist elected and first president of the Court of Auditors, there is no problem at this level of public spending in the context of the epidemic: "public spending can no longer be considered an enemy. .
In an exceptional crisis, exceptional measures are needed, ”he defended.
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And according to him, "the outlook must change" on the perception of public spending.
The issue is not "is there too much deficit?"
", But" how in the future we must have a sustainable debt so that our children are not crushed by the weight of the debt in a few years?
», He insisted.
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“We must ask ourselves, above all, what is the use of public spending?
Is public money well spent?
Is he going to the right place?
“, Added Pierre Moscovici, who wants to strengthen this approach in the work of the Court of Auditors.
