French state deficit set at nearly $61.5 bn
The lower house of the French parliament on Saturday approved 2008 spending plans that foresee a state defict of nearly 42 billion euros ($61.5 billion).
By Agencies |
PARIS: The lower house of the French parliament on Saturday approved 2008 spending plans that foresee a state defict of nearly 42 billion euros ($61.5 billion).
The 47.79 billion euros approved by lawmakers in the National Assembly was up just slightly from the figure proposed by government of President Nicolas Sarkozy, and slightly lower than the figure for this year.
The overall deficit - which includes social security, local government budgets and the state budget - will inch downwards to 2.3 per cent of GDP for 2008 from 2.4 percent of GDP in 2007, according to the government.
France, the eurozone's second largest economy, has come under pressure from its European partners to rein in public spending and meet a 2010 target for a balanced budget.
The national debt hovering at more than one trillion euros is to level off at 64 per cent of France's gross domestic product (GDP) in 2008, from 64.2 percent this year, according to budget forecasts.
A final vote on the entire budget was scheduled for Tuesday, with the spending plan then moving on to the Senate for consideration.
The 47.79 billion euros approved by lawmakers in the National Assembly was up just slightly from the figure proposed by government of President Nicolas Sarkozy, and slightly lower than the figure for this year.
The overall deficit - which includes social security, local government budgets and the state budget - will inch downwards to 2.3 per cent of GDP for 2008 from 2.4 percent of GDP in 2007, according to the government.
France, the eurozone's second largest economy, has come under pressure from its European partners to rein in public spending and meet a 2010 target for a balanced budget.
The national debt hovering at more than one trillion euros is to level off at 64 per cent of France's gross domestic product (GDP) in 2008, from 64.2 percent this year, according to budget forecasts.
A final vote on the entire budget was scheduled for Tuesday, with the spending plan then moving on to the Senate for consideration.
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