France Will Reduce The Budget Deficit by 2017

The French Government has stated that it can reduce its budget deficit below the EU 3% in 2017, ie two years later than promised.
By: BFR Media
 
PARIS - Oct. 12, 2014 - PRLog -- "We chose to adapt the pace of deficit reduction to the economic situation in the country - he said at the conference. - Our economic policy has not changed, but the deficit will be reduced much more slowly than planned, due to economic circumstances: sluggish growth and very sluggish inflation" .

The French Government is hoping to provoke growth by reducing taxes, it will be financed by further cost reductions. France plans to cut social spending by 50 billion euros by 2017, when France was to be held the next presidential election.

The country has not been able to reach a number of budgetary purposes, the country is struggling with high unemployment and low wages. GDP in France in April-June 2014 has not changed the second consecutive quarter, confirm the corrected data of the National Statistical Office Insee.

Previously, Moody's Investors Service downgraded the growth of the French economy in the current year from 0.6% to 0.4%, while the state budget laid down 1%. Moody's confirms France's sovereign rating "Aa1", maintaining a "negative" outlook because of the problems facing the country. In 2015, the agency expects increased growth to 0.9% in 2018 - up 1.4%.

Please visit http://banksfrance.com for more financial and banking news from France.

Contact
Joulie Bertrand
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Source:BFR Media
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Tags:France, Gdp, Ecomony
Industry:Banking, Business
Location:Paris - Ile de France - France
Subject:Reports
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