Arab Today, arab today france\s 2014 deficit target fragile
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

France\'s 2014 deficit target fragile

Arab Today, arab today

Arab Today, arab today France\'s 2014 deficit target fragile

Paris - XINHUA

The French audit office, la Cour des Comptes, on Tuesday estimated that the government's deficit target was unlikely to be reached this year, saying the Socialists should face tougher cuts to respect their financial commitments. In its annual review of public finances, the audit office's head Didier Migaud said the government has little chance to deliver on his promise to trim the budget gap to 3.6 percent of the gross domestic product (GDP) in 2014 "given many uncertainties and significant risks..." "2014 deficit target remains uncertain. Additional structural efforts will be needed over the next few years, including a sharp slowdown in spending growth to return to structural balance of public accounts," the natioanl accounting office said. According to Migaud, "assumptions of employment level and growth in the private sector's payroll appear fragile, like those related to revenue elasticity," a fact that would force the government to further save additional 6 billion euros (8.2 billion U.S. dollars) this year and fuel public anger. In its new report, la Cour des Comptes considered "plausible" the Socialists' growth forecast of 0.9 pecent this year but that of employment was risky as the loss of tax revenue could reach up to 4 billion euros in 2014. Furthermore, the audit office recommended "fundamental reforms in the various public administrations," and to focus on social security and local finances in which "the most important savings can be achieved." For 2013, "there is a real risk that the public deficit exceeds the latest government forecast of 4.1 percent of GDP," Migaud said. Unveiling this year's budget draft, the government said it wanted to accelerate growth by 0.8 percentage points from an expected 0.1 percent in 2013 and saw 2014's deficit at 82.2 billion euros, or 3.6 percent of GDP, down from expected 4.1 percent this year. It aims to clinch the belt by squeezing public spending by 15 billion euros and slash 13,123 public posts in the non-priority ministries in order to create about 11,000 jobs in education, justice and the police services. (1 euro = 1.37 U.S. dllars)

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france\s 2014 deficit target fragile Arab Today, arab today france\s 2014 deficit target fragile

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france\s 2014 deficit target fragile Arab Today, arab today france\s 2014 deficit target fragile

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday