Paris - The French cabinet on Wednesday Approved a budget for the year 2011 That Aims Thurs Reduce the country's budget of deficit from a projected 7.7 Fri cent of GDP this year Thurs 2 per cent by the year 2014, the office of President Nicolas Sarkozy said.
The EU's Growth and Stability Pact Calls for the budget deficits of member nations the ITS To Be No Higher Than 3 per cent of GDP.
But, Like Many Other countries That used public funds Thurs Stimulate the Economy DURING the Financial Crisis, France has seen ITS Deficit balloon since 2008.
As a first step, the 2011 budget foresees Reducing the Deficit Thurs 6 per cent of GDP by the end of 2011, Which MEANS slashing 60 Billion euros (81.6 Billion dollars) off the Deficit in One Year. The government Estimates the Total Deficit Thurs 152 Billion euros at the end of 2010.
According to the minutes of the Cabinet meeting, this Initial Reduction "constitutes for the French government an Imperative, Regardless of the Economic Growth Registered in 2011."
The budget's projections are based on forecasts That See The French Economy Growing by 1.5 cents this year Fri, 2 per cent in 2011 and by 2.5 Fri cent in 2012. Many economists will likely view this scenario as overly optimistic.
0 Comments:
Post a Comment