France would need a primary surplus to stabilize its debt burden, Luis Garicano says. With debt at 120% of GDP, 3% nominal growth and 4%-4.5% borrowing costs, France needs a surplus of about 1.5% of GDP but is running a 3% primary deficit.
published
France would need a primary surplus to stabilize its debt burden, Luis Garicano says. With debt at 120% of GDP, 3% nominal growth and 4%-4.5% borrowing costs, France needs a surplus of about 1.5% of GDP but is running a 3% primary deficit.
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