French President Francois Hollande publicly renounced on Tuesday his government's goal of cutting the public deficit to the EU limit of three percent of output this year, saying that it would probably amount to 3.7 percent.
French President Francois Hollande on March 11, 2013 in Dijon, France. Hollande said Tuesday that France's public deficit would probably amount to 3.7 percent of national output this year, publicly renouncing his government's goal of coming in below the EU limit of three percent.
"The public deficit in 2011 reached more than five percent of national wealth, it was 4.5 percent at the end of 2012 and will probably be 3.7 percent in 2013, even if we are trying to make it less," Hollande acknowledged during a visit to Dijon, central France.
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