La France “has assumed its responsibilities” in the field of public accounts, now the European Union “must in turn assume its responsibility, in all its components” in the face of weak growth and deflation risk ‘ . It is the firm position of the French Finance Minister Michel Sapin during the presentation of the 2015 budget law Then the challenge in Brussels, the French government – is to know the minister – he refuses to adopt new austerity measures. ” And despite the commitment to fall below 3 percent already this year, “provides, in the budget law for 2015, a deficit that this year will amount to 4.4% of GDP next year will shrink 4.3%, to fall to 3.8% in 2016 and only in 2017 will be 2.8%, which is below the 3% ceiling.
“We took the decision to adapt the pace of reduction in GDP – explains Sapin – the economic situation of the country.” “Our economic policy – he added – is not changing, but the deficit will be reduced more slowly than expected because of economic circumstances.”
“No extra effort – said in a statement accompanying the numbers in the budget law – will be required to France because the government – taking responsibility for the financial statements to put the country on the right track – rejects the ‘austerity’.
Sapin had already announced that the deficit target for 2015 was unworkable and reiterates that France next year will grow by only 1% in 2017 and del’1,9 Also calls “unprecedented “the government’s effort to cut 50 billion euro volume of public spending by 2017, while recognizing that the total public expenditure in this period will record an increase of 0.2%. This means that the public debt in 2016 will touch a peak of 98% of GDP, starting with a slight drop in 2017
No comments:
Post a Comment