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Europe

France remains ‘determined’ to reach EU deficit target

© AFP

Text by FRANCE 24

Latest update : 2014-05-05

France on Monday said it remains determined to reach its budget deficit target for next year, despite a new EU forecast suggesting Paris won’t be able to deliver on its promises.

"The government reaffirms its determination to put in place the Responsibility and Solidarity Pact and to make the 50 billion euros in necessary savings to bring the deficit to three percent of GDP (ouput) next year," Finance Minister Michel Sapin said in a statement.

In economic forecasts released on Monday, the European Commission said it expected France to overshoot its target with a deficit of 3.4 percent in 2015.

Sapin said the EU had "only partially taken into account" the amount of French savings in its prediction.

(FRANCE 24 with AFP)

Date created : 2014-05-05

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