Tuesday, April 28, 2015   

French budget deficit set to overshoot targets
(06-17 17:07)

France's budget deficit will overshoot targets this year, heading for 4.0 percent of national output or more and there is little evidence of promised government spending cuts, national auditors warned.
The report from the highly influential body will be seen as a blow to Socialist President Francois Hollande, who has a record unpopularity rating and has based a U-turn on economic policy on cutting charges on business to be matched by huge cuts in planned spending.
France had been supposed to get its public deficit down to 3.0 percent of output but won a reprieve from the European Commission, and was aiming for 3.8 percent this year.
But the top national auditing body, the Accounting Court, said that the deficit was on track to overshoot targets again, heading for 4.0 percent or slightly more of gross domestic product.
``If this risk materializes, the direction for public finances from 2015 to 2017 will be undermined,'' the auditors said in a report on the state of national finances.--AFP
   
Other Business breaking news:
Hang Seng lower at break (41 mins ago)
Tokyo Electron plunges 15pc after scrapped merger with US rival (1 hr 11 mins ago)
Apple returns US$200b to investors (1 hr 20 mins ago)
Apple chief Cook bets on China (1 hr 21 mins ago)
Apple stock rallies by 50pc (1 hr 24 mins ago)
61m iPhones drive Apple’s US$13.6b profit (1 hr 25 mins ago)
Hang Seng lower (1 hr 52 mins ago)
Nikkei positive (1 hr 53 mins ago)
Spain’s Rajoy balmes Greece for threatening recovery (04-27 19:51)
Capgemini to buy IGATE in US$4 billion US expansion push (04-27 19:39)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.