Budget Minister Eric Woerth announced Wednesday morning that the deficit would "7.9% of GDP in 2009 instead of 8.2% forecast, and in 2010 should be" around 8.2% " , thus confirming the details of Figaro.
"For the first time in 2009, the state will spend less in 2008 (…). In 2009, we have deficits that are lower than those projected, it is 138 billion euros then we had expected 141 ", he said on France 2. "There will be 7.9% of GDP over the entire public sphere. It was expected 8.2% then 0.3% (less, Ed) is six billion euros in Economics, he said.
"In 2010, the deficit will be around 8.2%. We had planned to 8.5, "said Budget Minister, welcoming the" changing world ".These deficits are "due to the extraordinary fall of revenue and also to boost spending to avert the crisis," analyzed Mr Woerth
The minister had already announced on Monday that the government deficit would reach a record 138 billion euros in 2009, slightly less so than the 141 billion expected.
These figures reflect a slight improvement on the growth front: while the government awaited a recession of 2.25% last year, the President of the Republic Nicolas Sarkozy recently referred to a range between -2 and -2, 1%. Same scenario for 2010 because the executive had planned to raise its growth forecast of 0.75% to 1.4%.
An improvement that benefits the accounts of the State through tax revenue slightly better than expected, particularly for the corporation tax in late 2009.
Like other countries, France remains very near the limit set by the European treaties to a public deficit below 3% of GDP. Brussels has granted a reprieve until 2013 to return to the nails.
"Even before the issue of public spending, the real question is how we do (…) to strengthen this recovery," he said. "This is not recovering very violent, it's the least we can say," he conceded, noting that if the financial crisis is "definitely behind us, the economic crisis is still there."
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