The French government announced on Monday new spending cuts and tax hikes to reduce next year's deficit and balance the budget by 2016. French Prime Minister Francois Fillon said after a Cabinet meeting that the government's new austerity measures, the toughest for the country since the end of World War II, were required to save over 100 billion euros to achieve a deficit-free budget by 2016. French President Nicolas Sarkozy announced in late October that economic growth was slowing in France and the country's GDP was expected to grow by only one percent in 2012 instead of the expected 1.75 percent, prompting the government to work out new austerity measures to cut the budget deficit. The French government will have to cut the budget deficit to 4.5 percent of GDP in 2012, three percent of GDP in 2013 and two percent of GDP in 2014 to reach a balance of revenues and expenditures by 2016, Fillon said.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor