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France likely to miss 2017 deficit target, says PM

Staff Writer |
France, already under pressure to reach healthy fiances, is likely to miss 2017 deficit target due to the outgoing Socialist government's high public spending, French Prime Minister Edouard Philippe said.

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Speaking to state-run Franceinfo radio, Philippe estimated "an extremely high risk" that the eurozone second key powerhouse will miss this year's budget gap target of 2.8 percent.

"Before becoming Prime minister, I had my doubts. Now that I am Prime minister, I have even greater doubts," he said.

"It can quite easily happen in the months before an election that a government let slide a certain amount of tough decisions, and then it is up to others to manage this," he added.

La Cour des Comptes, the country's audit office will submit a report in July which will determine "whether we are on a path to 2.8 percent or whether we are higher," the French prime minister said.

In a case of figures above the targeted rate, Philippe promised to take "a whole series of measures" to make public finances in order.

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