Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Hiroshima's Healing Hug

Read more

EYE ON AFRICA

Uganda Terror Trial: Five jailed for life for 2010 Al-Shabaab World Cup Bombings

Read more

THE WORLD THIS WEEK

Obama in Hiroshima and Austria's close call (part 1)

Read more

THE WORLD THIS WEEK

French labour strikes, raids on Google and McDonald's (part 2)

Read more

REPORTERS

Ukraine: Searching for missing people in Donbass

Read more

REVISITED

Video: What remains of the Gezi movement in Turkey?

Read more

FRANCE IN FOCUS

Euro 2016: France readies for kick off

Read more

ENCORE!

Anne A-R : The people beyond the numbers: A photographic manifesto from the migrant trail

Read more

ENCORE!

Video: Ken Loach wins his second Palme d'Or in Cannes

Read more

France

France to miss 2013 deficit target, lowers 2014 growth

Text by NEWS WIRES

Latest update : 2013-09-12

French Finance Minister Pierre Moscovici said Wednesday that France's 2013 public deficit would hit 4.1% of GDP, higher than the 3.9% agreed with the European Union, and lowered the 2014 growth forecast by a third of a point to 0.9%.

Finance Minister Pierre Moscovici said Wednesday that France would fail to reach the deficit target it agreed with the EU for this year and lowered the government's growth forecast for 2014.

Moscovici said France's 2013 public deficit will come in at 4.1 percent of GDP, higher than the 3.9 percent agreed with the European Union.

But he said the 2014 deficit will come in at 3.6 percent and that France plans to push it back under the EU ceiling of 3.0 percent of GDP in 2015, which is the agreed deadline with Brussels.

He also said France was lowering its forecast for economic growth in 2014 to 0.9 percent, but maintaining its prediction for 0.1 percent growth this year.

The government has previously predicted 1.2 percent economic growth for next year.

In May, the European Commission gave France an additional two years to bring its public deficit back under the EU ceiling of 3.0 percent of GDP.

It said France should cut the public deficit from 4.8 percent of GDP in 2012 to 3.9 percent in 2013, then 3.6 percent in 2014 and 2.8 percent in 2015.

(AFP)

Date created : 2013-09-11

  • FRANCE

    French unemployment rises above 3 million

    Read more

  • FRANCE

    Buying 'Made in France' costs €300 more per month

    Read more

  • FRANCE

    French minister predicts ‘full employment’ by 2025

    Read more

COMMENT(S)