France reportedly plans to cut spending by €14B next year as part of an attempt to lower...
Jun 30 2013, 03:50 ET
France reportedly plans to cut spending by €14B next year as part of an attempt to lower the public deficit to 3% of GDP by 2015. The government would reduce ministerial budgets, state aid to companies, and local-government funding. The speculation comes after the state auditor last week forecast that the government's 2013 public deficit will be near to 4% of GDP. It advised spending cuts of €13B next year and €15B in 2015 to hit the 3% target.