Crisis-hit France eyes gradual deficit reduction

October 1, 2014 12:10 PM

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Crisis-hit France eyes gradual deficit reduction

PARIS: France's finance minister on Wednesday forecast that the country's budget deficit would scrape below the European Union ceiling by 2017, as he unveiled his annual budget.

Michel Sapin told reporters that the deficit would be 2.8 percent of gross domestic output in 2017, just below the EU's three-percent ceiling.

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