France urged by OECD to raise taxes and reform pensions

The OECD released a 160‑page report warning that France's public‑debt ratio could climb to 127 % of GDP by 2030 and possibly 203 % by 2050 if decisive action is not taken. The organization recommends revoking recent reductions in social‑security contributions for middle‑income earners, increasing diesel and gasoline taxes, and conducting a thorough review of numerous tax exemptions that together account for about 3 % of GDP. Additional suggestions include making wealth taxation more equitable, curbing public spending while improving local‑government efficiency, and raising the statutory retirement age to 64 by 2033. Interest‑paying debt is projected to rise from 1.3 % of GDP in 2020 to 2.1 % in 2025 and could approach 5 % by 2050.