France promise to cut Budget defecit & keep it close to 4.3% of GDP

Hoping to avoid slowdown in EU,France says it will cut its budget deficit next year by an additional €3.6B, boosting the country’s structural adjustment efforts to above 0.5%. Until recently, France committed to reduce its budget deficit to 3% of GDP by next year, and was supposed to cut its structural deficit target by 0.8 percentage points, as outlined by EU rules. However, Paris said earlier this month that next year’s budget deficit would be closer to 4.3% of GDP, and promised a mere 0.2 point improvement on its structural deficit target.