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French deficit could overshoot 3 percent of GDP

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Staff Writer | June 20, 2017
Prime Minister Edouard Philippe
France   Prime Minister Edouard Philippe:

There is a risk that France's public deficit could overshoot the EU deficit limit of 3 percent again in 2017, Prime Minister Edouard Philippe said on Tuesday.

Earlier in June, France's central bank said that the public finances were on course for a deficit of 3.1 percent of economic output this year, higher than the 2.8 percent predicted by the previous government.

That would mean France would miss the 3 percent EU deficit limit.

Former president Francois Hollande had promised it would be respected this year for the first time in a decade.

The government of new president Emmanuel Macron has said it would take corrective measures if needed.

The national audit office is due to review official estimates in July.

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