France Slashes Deficit To Meet Eu Rules In 2005 Budget
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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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European Union finance ministers approved a French plan to cut its budget deficit below a 3 percent ceiling.
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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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The French economy will surpass European Commission estimates, figures from the Bank of France indicate.
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Germany, Greece, Italy and Portugal risk breaching a eurozne public deficit limit of three percent of output in 2005, Dutch Finance Minister Gerrit Zalm warned here Thursday.
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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.
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France&#39;s public deficit will drop by about euro10 billion (US$12 billion) in 2005 to conform with European Union rules, the French prime minister said in an interview.
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ECONOMISTS have warned that French President Jacques Chirac - s pledge to resume tax cuts in 2006 puts the country at risk of breaching EU budget deficit limits.
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The Italian parliament approved on Wednesday the country's 2005 budget which includes tax cuts worth 6.5 billion euros (8.6 billion US dollars) and caps on government spending.
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The European Union on Thursday warned four countries - Germany, Italy, Portugal and Greece - that they risked violating budget rules next year if they do not further cut deficits.
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Chancellor Gerhard Schroeder's Cabinet approved budget guidelines for 2005 on Wednesday that would see Germany's deficit below the European Union limit for the first time in four years.
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President Nicolas Sarkozy&#39;s government on Wednesday unveils its 2008 draft budget, as France faces mounting pressure from its European partners over the worsening state of its public finances.
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The European Commission on Tuesday revised upwards its growth forecast for this year, but cut its prediction for 2005 GDP growth to 2.0 percent, in its regular autumn economic outlook report.
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The European Commission froze its threat of fines against France and Germany on Tuesday, granting the two biggest economies in the euro zone an extra year to bring down their bloated budget deficits.
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The European Parliament approves the EU budget for 2006, setting spending at Â£76bn.
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France has unveiled a budget for 2005 which should bring its deficit back under European Union (EU) limits for the first time in four years.
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The four parties in Slovakia's center-right coalition government have agreed to set the 2005 budget with a deficit of 3.8 percent of gross domestic product.