September 21, 2018

France Warned On Budget Deficit Targets – IMF

France received a warning from the IMF that it will have to carry out more spending cuts to ensure it reaches its deficit reduction commitments amid lower-than-expected growth expectations. France has predicted 2.25 % growth for 2012, meanwhile the Washington-based fund in its yearly assessment of the French economy said the economy will only grow by 1.9 % next year. French tax rates are already among the highest in Europe, France will have now to reduce spending, said the IMF, citing healthcare and pension spending in particular. The IMF also underlined the importance of cutting medium-term spending for maintaining France’s strong credit rating.

Source of the news: EUObserver (Read More)

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