{"id":21132,"date":"2026-11-12T09:40:58","date_gmt":"2026-11-12T09:40:58","guid":{"rendered":"https:\/\/www.agencesand.fr\/fibee\/dette-publique-des-trajectoires-divergentes-malgre-la-hausse-des-interets\/"},"modified":"2026-11-14T01:56:26","modified_gmt":"2026-11-14T01:56:26","slug":"dette-publique-des-trajectoires-divergentes-malgre-la-hausse-des-interets","status":"publish","type":"fibee","link":"https:\/\/www.agencesand.fr\/en\/fibee\/dette-publique-des-trajectoires-divergentes-malgre-la-hausse-des-interets\/","title":{"rendered":"Dette publique : des trajectoires divergentes malgr\u00e9 la hausse des int\u00e9r\u00eats"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>La hausse du co\u00fbt de la dette n\u2019emp\u00eache pas tous les \u00c9tats de r\u00e9duire leur endettement.<\/strong> L\u2019\u00e9tude publi\u00e9e le 5 novembre 2026 par BNP Paribas, coordonn\u00e9e par l\u2019\u00e9conomiste Guillaume Derrien, souligne le r\u00f4le d\u00e9terminant de la croissance et des choix budg\u00e9taires.<\/p>\n<p class=\"wp-block-paragraph\">Le refinancement progressif des emprunts \u00e9mis \u00e0 taux bas alourdirait les charges d\u2019int\u00e9r\u00eats dans l\u2019ensemble des pays \u00e9tudi\u00e9s d\u2019ici 2032. <strong>En France, cette charge doublerait<\/strong>, tandis qu\u2019aux \u00c9tats-Unis elle atteindrait 5 % du PIB, le niveau le plus \u00e9lev\u00e9 de l\u2019\u00e9chantillon.<\/p>\n<p class=\"wp-block-paragraph\">Les perspectives restent toutefois contrast\u00e9es. L\u2019Espagne et le Japon r\u00e9duiraient leur ratio de dette gr\u00e2ce \u00e0 une croissance nominale soutenue. L\u2019Italie et le Royaume-Uni enregistreraient un recul plus modeste. \u00c0 l\u2019inverse, l\u2019endettement augmenterait aux \u00c9tats-Unis et en Allemagne. En France, il progresserait avant de se stabiliser autour de 124,5 % du PIB en 2032, selon le sc\u00e9nario pr\u00e9sent\u00e9.<\/p>\n<p class=\"wp-block-paragraph\"><strong>La croissance ne suffira donc pas partout \u00e0 stabiliser la dette.<\/strong> Lorsque le taux d\u2019int\u00e9r\u00eat moyen d\u00e9passe la croissance nominale, d\u00e9gager un exc\u00e9dent budg\u00e9taire hors int\u00e9r\u00eats devient n\u00e9cessaire. Un choc combinant ralentissement \u00e9conomique et hausse des taux fragiliserait davantage ces trajectoires. <a href=\"https:\/\/economic-research.bnpparibas.com\/html\/fr-FR\/Finances-publiques-pression-croissante-taux-interet-empeche-desendettement-plusieurs-pays-05\/11\/2026,53899?utm_source=chatgpt.com\">economic-research.bnpparibas.com<\/a><\/p>\n<p><a href=\"https:\/\/economic-research.bnpparibas.com\/html\/fr-FR\/Finances-publiques-pression-croissante-taux-interet-empeche-desendettement-plusieurs-pays-05\/11\/2026,53899\" target=\"_blank\" rel=\"noopener noreferrer\">Lire l\u2019article original sur le site des \u00c9tudes \u00e9conomiques de BNP Paribas \u2192<\/a><\/p>\n<p>L\u2019article <a href=\"https:\/\/www.experts-du-patrimoine.fr\/dette-publique-des-trajectoires-divergentes-malgre-la-hausse-des-interets\/\">Dette publique : des trajectoires divergentes malgr\u00e9 la hausse des int\u00e9r\u00eats<\/a> est apparu en premier sur <a href=\"https:\/\/www.experts-du-patrimoine.fr\/\">Experts du Patrimoine<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false},"class_list":["post-21132","fibee","type-fibee","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dette publique : des trajectoires divergentes malgr\u00e9 la hausse des int\u00e9r\u00eats &#187; Agence SAND<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.experts-du-patrimoine.fr\/dette-publique-des-trajectoires-divergentes-malgre-la-hausse-des-interets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dette publique : des trajectoires divergentes malgr\u00e9 la hausse des int\u00e9r\u00eats &#187; Agence SAND\" \/>\n<meta property=\"og:description\" content=\"La hausse du co\u00fbt de la dette n\u2019emp\u00eache pas tous les \u00c9tats de r\u00e9duire leur endettement. 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