what were the problems faced by Louise XVI after he ascended the throne in 1774?

The following problems were faced by Louis XVI after he ascended the throne of France in 1774:

i) The treasury was empty as financial resources had been drained by prolonged warfare.

ii) The country faced large debts that were added due to the costs of maintaining an extravagant royal court at the Palace of Versailles

iii) French aid to American colonies in their war of independence against Britain further added to the debt.

iv) The state had to spend increasing share of its budget on debt payments as lenders started charging 10 percent interest on loans they had given to the government.

v) Increasing the taxes did not solve the problem as the nobility and clergy claimed exemption and only the peasants were burdened with it.