France is unlikely to meet its 2017 budget deficit target, the country's independent fiscal watchdog said on Tuesday, casting doubt on the government's plan to cut the shortfall to less than 3% of output.
The government's deficit reduction plans were "improbable" because of high risks that spending would be more than planned while estimated revenues were optimistic, it said.
"Based on the information at its disposal, (the watchdog) considers as uncertain that the nominal deficit will be brought to less than three percent of GDP in 2017," it said in a report on the main forecasts underpinning the 2017 budget, a copy of which Reuters obtained.
France is targeting a deficit of 2.7% of GDP for 2017, which would be the lowest in a decade and bring it in line with an EU-imposed limit of under 3%. (Reuters)
Source: www.businessworld.ie
