French lower house of parliament approved on Tuesday the 2013 budget draft presented by the government, which projected to lower deficit to 3 percent of national output on efforts to cut spending via high taxes. With 317 approving votes, the National Assembly endorsed next year's state budget which expects to trim the gap by 398 million euros (510.12 million U.S. dollars) to 61.237 billion euros. In their first annual budget since taking office in May, the Socialists are working to save more than 30 billion euros for 2013, the toughest adjustment in three decades, to trim budget gap to 3 percent of national wealth from an expected 4.5 percent this year. As for growth target, the government eyes to expand the country's national wealth by 0.3 percent this year and by 0.8 percent in 2013 on efforts to axe public spending and improve competitiveness. However, economists painted a grim picture over the government's optimistic outlook whose risks could force President Francois Hollande to tighten further the belt amid rising public disenchantment. Considred as "a fighting budget to get the country back on the rails", the draft budget is scheduled to be presented Thursday to the Senate where the left-wing parties enjoy the majority. (1 euro = 1.281 U.S. dollars).
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