Arab Today, arab today french finmin warns of failing to fill budget gap in 2015
Last Updated : GMT 20:45:26
Arab Today, arab today
Arab Today, arab today

French FinMin warns of failing to fill budget gap in 2015

Arab Today, arab today

Arab Today, arab today French FinMin warns of failing to fill budget gap in 2015

New French finmin
Paris - XINHUA

France would not deliver on its promise to bring the budget deficit to the rate mandate by the EU by 2015, and need further extra time to lower the gap to 3 percent, the country's Finance Minister Michel Sapin announced Wednesday.
"With growth and inflation weak, the deficit reduction we are planning for 2015 will be limited with a deficit around 4.3 percent of gross domestic product in 2015 and coming under the three percent threshold in 2017," Sapin said.
"We do not ask for any change in the European Union's rules (in budget limits), we do not ask neither for their suspension nor for any exception," he added.
Blaming wane economic activity in the single-currency bloc and weak inflation, the French minister estimated growth at 0.4 percent this year and hoped to accelerate the figure percent in 2015 to 1 percent.
"The situation has deteriorated. The French economy is slowing down and clearly will not reach the growth target of 1 percent (this year)," the minister noted.
"Less growth and less inflation means less revenue, and also less savings," he stressed, adding "monitoring public spending is a pillar of our policy."
As regards the whole year of 2014, Sapin announced the budget gap would stand at 4.4 percent, up by 0.6 percentage points from the government's previous forecast.
But the Socialists would stick to the pledge to save 21 billion euros (27.18 billion U.S. dollars) next year to rein in its ailing finances, according to the French minister.
In a fierce struggle to put the country's finances in order, French President Francois Hollande pressed for a 50-billion-euro package of savings by the end of his mandate, by freezing pensions and welfare benefits for a year and keeping most civil service pay frozen until 2017.
He also proposed a 30-billion-euro cut in payroll tax to encourage recruitment and investment, in a way to water down woes and reverse the rampant unemployment rate. (1 euro = 1.294 U.S. dollars)

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 french finmin warns of failing to fill budget gap in 2015 Arab Today, arab today french finmin warns of failing to fill budget gap in 2015

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Tabarka beauty between sea, mountain

GMT 06:37 2017 Wednesday ,01 March

Tabarka beauty between sea, mountain
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN report confirms war crimes were committed

GMT 20:43 2017 Wednesday ,01 March

UN report confirms war crimes were committed
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
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