Monday June 22, 2009
France’s budget deficit will widen to more than 7 per cent of gross domestic product this year and next as tax receipts fall and unemployment rises, Budget Minister Eric Woerth said on Sunday.
Speaking on RTL radio, he said the deficit would come to between 7.0 and 7.5 per cent of GDP in 2009 and 2010, more than twice the 3 per cent ceiling laid down by European Union borrowing rules.
(Reuters)
France’s budget deficit will widen to more than 7 per cent of gross domestic product this year and next as tax receipts fall and unemployment rises, Budget Minister Eric Woerth said on Sunday.
Speaking on RTL radio, he said the deficit would come to between 7.0 and 7.5 per cent of GDP in 2009 and 2010, more than twice the 3 per cent ceiling laid down by European Union borrowing rules.
(Reuters)
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