A combination of high government debt, investor anxiety and parliamentary gridlock will impede the next French president’s ability to overhaul public finances, which means France's fiscal position will likely continue to weaken in the coming years, even if a financial crisis is unlikely. The two rounds of France's presidential elections are scheduled for April 18 and May 2, 2027, with the victor certain to inherit a challenging economic and financial situation. French government debt has been increasing almost continuously over the past quarter-century, reaching 118% of GDP last year, with a deficit of 5.1% of GDP. Among EU member states, France has the third-largest government debt after Greece and Italy.