Skip to comments.French public debt at record high
Posted on 04/01/2014 7:21:30 AM PDT by Olog-hai
French public debt decreased in 2013, but is still higher than expected. Total debt continues to climb and fails to meet the Maastricht criteria. EurActiv France reports.
Despite austerity measures, Frances public deficit did not meet its government targets for 2013. The French National Institute of Statistics and Economic Studies (INSEE) published figures showing that it currently stands at 4.3% of GDP.
The French government expected this percentage to be 4.1%, whilst the European Commission predicted 4.2%. However timid, the reduction of public deficit from its previous level of 4.9%, in 2013, is still a significant improvement.
(Excerpt) Read more at euractiv.com ...
Given the unpopularity of the Socialists and austerity, I’d wouldn’t be surprised to see further reductions coming in spending and high taxes to meet deficit targets - at Berlin’s insistence.