France cuts 2015 budget deficit target after better-than-expected 2014
[PARIS] France cut its public deficit to 4.0 per cent of economic output last year from 4.1 per cent in 2013, INSEE statistics office data showed on Thursday.
The deficit was higher than initial targets in the 2014 budget but smaller than the government's latest 4.4 per cent forecast.
The better-than-expected data paves the way for a 2015 deficit of about 3.8 per cent of GDP, down from a previous target of 4.1 per cent of GDP, Finance Minister Michel Sapin said in a statement.
France's gross public debt rose last year to 95.0 per cent of gross domestic product from 92.3 in 2013.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
India votes in gigantic election dominated by jobs, Hindu pride and Modi
Britain’s retail sales disappoint in sign of lacklustre recovery
Explosions in Iran, US media reports Israeli strikes
US veto sinks Palestinian UN membership bid in Security Council
Pro-China local leader ousted in Solomon Islands election
Japan‘s March inflation slows to 2.6%, eyes on BOJ move