POST Online Media Lite Edition



 

French deficit could overshoot 3 percent of GDP

Staff Writer |
There is a risk that France's public deficit could overshoot the EU deficit limit of 3 percent again in 2017, Prime Minister Edouard Philippe said on Tuesday.

Article continues below






Earlier in June, France's central bank said that the public finances were on course for a deficit of 3.1 percent of economic output this year, higher than the 2.8 percent predicted by the previous government.

That would mean France would miss the 3 percent EU deficit limit.

Former president Francois Hollande had promised it would be respected this year for the first time in a decade.

The government of new president Emmanuel Macron has said it would take corrective measures if needed.

The national audit office is due to review official estimates in July.


What to read next

France to cut spending by $2 billion
France needs to cut its structural deficit
Australia budget deficit to reach $30 billion