PARIS—The governor of France’s central bank on Friday told President Emmanuel Macron that the country’s heavy public debt, bloated by spending to safeguard jobs and growth during the pandemic, posed a challenge to the economy but could not be cancelled.
In his annual letter to the president, Governor Francois Villeroy de Galhau said easing the debt burden would need time, economic growth spurred by investor-friendly reform and more efficient public spending.
