Don't miss

Replay


LATEST SHOWS

THE DEBATE

Do Russians care? Kremlin cracks down after anti-corruption (part 1)

Read more

THE DEBATE

Do Russians care? Kremlin cracks down after anti-corruption (part 2)

Read more

FOCUS

French presidential election: What attracts young voters to the far right?

Read more

EUROPE NOW

Italy challenged by populism

Read more

EUROPE NOW

60th anniversary of the Treaty of Rome: What's to celebrate?

Read more

THE OBSERVERS

How traffickers lie to migrants wanting to go to Europe; and the gold rush polluting rivers in Ivory Coast

Read more

BUSINESS DAILY

Startled startups flee UK ahead of Brexit

Read more

IN THE PAPERS

What's next for Yemen?

Read more

France

Budget deficit to be bigger than expected

Latest update : 2009-01-20

Estimates of the public deficit were revised upwards to 3.2% of GDP in 2008 and 4.4% in 2009, announced French Budget Minister Eric Woerth (pictured) on Tuesday, due to the impact of the financial crisis.

AFP - France said Tuesday it had revised upwards its expected public deficits for 2008 and 2009 due to the impact of the world economic crisis.
  
The deficit would be 3.2 percent of gross domestic product (GDP) in 2008 and 4.4 percent for 2009, Budget Minister Eric Woerth said, revising upward earlier estimates of 2.9 and 3.9 percent.
  
European Union member states are supposed to keep their public deficits to less than 3.0 percent of output under the rules of their Stability and Growth Pact but France has called for this limit to be eased as governments grapple with the worst economic downturn in decades.
  
Woerth forecast on Tuesday that France would get the deficit back down to 3.1 percent in 2010, 2.3 percent in 2011 and 1.5 percent in 2012.

Date created : 2009-01-20

COMMENT(S)