Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Melania’s jacket: What did it mean?

Read more

EYE ON AFRICA

South Sudan peace deal attempt fails as Kiir rejects Machar

Read more

THE DEBATE

Zero Tolerance: Does Border Security Trump Compassion?

Read more

FRANCE IN FOCUS

Let's become French!

Read more

FOCUS

Taking sides: The dual-nationality footballers playing at the World Cup

Read more

FASHION

Dior trots out Cruise collection at Chantilly stables

Read more

YOU ARE HERE

France's Pelagos sanctuary, a haven for whales and dolphins

Read more

#THE 51%

Developing a code of their own: Are women leading the tech revolution in Paris?

Read more

#TECH 24

Motorsport innovation

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