French public deficit moderately misses government objective in 2016

French public deficit moderately misses government objective in 2016

The previous year the French government cut the public sector deficit moderately less than planned, data from the INSEE official statistics agency demonstrated on Friday.

In a preliminary estimate INSEE told that the deficit edged down to 3.4% of GDP in 2016 from 3.5% in 2015, previously revised from 3.4%.

The outcome fell short of the government's objective to reduce the deficit to 3.3% the previous year.

Michel Sapin, finance Minister told in his statement that the conditions are in place for the deficit to edge down 3%, which is in line with an EU limit for 2017.

Obviously, the government to be created after France's two-round presidential election in April and May might revise the given commitment.

Aside from that, INSEE told that gross national debt headed north the previous to 96% of economic output from 95.6%. It’s quite in line with the government's objective for 96.1%.

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