Frances debt weighs heavier ahead of budget debate [Video]

France’s vast public debt pile grew in the second quarter, official figures showed Friday, as Prime Minister Michel Barnier’s shaky minority government girds itself for a gruelling budget debate.

New borrowings of 68.9 billion euros ($77 billion) between April and June increased the country’s debt pile to almost 3.23 trillion euros, or 112 percent of annual output, data from statistics agency INSEE showed.

The figures underline the scale of the challenge for Barnier, the former European Union commissioner and Brexit negotiator heading a centrist and conservative coalition heavily outnumbered in the National Assembly lower house.

With the chamber roughly divided in three since July’s parliamentary election, the NFP left alliance and far-right National Rally (RN) could oust the new government at any time if they joined forces in a confidence vote.

There is scepticism among financial players of Paris’ ability to get its debt and annual deficit under control.

Ratings agency S&P downgraded France’s creditworthiness earlier this year.

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