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France won't achieve deficit target; growth projections lowered

  • France will not achieve its deficit target of 3%, Michel Sapin, the county’s finance minister, said.

    He said the country’s budget deficit would be about 4.4% of GDP this year; 4.3% in 2015; and won’t drop below 3% till 2017.

    France’s growth projections for 2014 and 2105 have also been lowered —  from 0.7% to 0.4% this year; and 1.7% to 1% for next year.

    Sapin said low growth was “an economic reality” facing Europe.

     

    Tagged as: France, deficit target, Michel Sapin, finance minister, GDP, growth projections, Europe, business news