French budget to control deficit
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French finance minister Nicolas Sarkozy unveils a budget with a promise to bring the deficit under control and high-profile tax breaks.
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France signalled it will slash its budget overspending next year to come into line with EU rules in a 2005 budget published on Wednesday and forecast economic growth of 2.5 percent.
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In his first and only budget as France's finance minister, Nicolas Sarkozy promised that economic growth and a freeze on spending will bring France back within the EU's deficit limits in 2005 for the first time in four years.
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Prime Minister Jean-Pierre Raffarin said that France's budget deficit would be reined in next year to below three percent of output, in an interview with the French newspaper Le Figaro to be published Friday.
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The White House will estimate on Wednesday that the U.S. budget deficit for fiscal year 2007 will come in at $205 billion, a drop from last year, a U.S. official said.
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France and Spain, holding annual summit talks in this northern city on Tuesday, have pledged to reach agreement on the delicate issue of the 2007-2013 EU budget, a French delegation source said.
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OTTAWA - Canada is on track to post a budget surplus of $5.9 billion when the federal government&#39;s current fiscal year ends in March, Finance Minister Ralph Goodale said Tuesday.
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France's finance minister announced new measures Tuesday designed to boost confidence, stimulate growth and tackle what he called the "scandalously high" jobless rate.
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French President Jacques Chirac may come closer to his goal of meeting European Union deficit rules for the first time in three years in 2005 after Electricite de France and Gaz de France agreed to make ...
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Germany looks set to cut its budget overspending back within EU limits for the first time in five years this year, finance minister Peer Steinbrueck has indicated.
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The French economy is expected to grow 2.1 percent this year, but will limp through the first half of 2005 at a 1.4 percent pace that threatens the official full-year target of 2.5 percent, the national statistics office INSEE said.
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One guiding star in the &#36;2.5 trillion budget that President Bush ships Congress next month will be his goal of cutting the federal deficit in half by 2009.
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Reply by M. Jean-Pierre Raffarin, Prime Minister, to a question in the National Assembly.
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New French Prime Minister Francois Fillon reiterated Tuesday a target of &quot;full employment&quot; by 2012 along with a two-year delay in meeting an EU limit on France&#39;s excessive public debt.
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France's president is heading for a showdown with European finance ministers over its budget deficit.
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Gov. Arnold Schwarzenegger unveiled a &#36;111.7 billion no-new-taxes budget Monday and proposed to close an &#36;8.1 billion deficit by borrowing money and holding the line on spending growth throughout state government.
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France is on track to post a record trade deficit in 2007, following a huge surge in the shortfall in November that threatens to weigh heavily on prospects for the French economy.