France's socialist government on Friday rose the curtain on next year's "fighting budget" that pressed for further cuts of 30 billion euros (38.7 billion U.S.dollars) to realize promises of deficit-cutting and growth recovery.

Cornered by fragile economic activities and alarming unemployment rise, the Socialists's first budget, the toughest in decades, aims to trim the public deficit to 3 percent of the country's wealth in 2013 from an expected 4.5 percent this year.

A move seems "realistic and and within reach" for officials to preserve France's position as main powerhouse in the European bloc.

With public debt at a record of 91 percent of the economy, Prime Minister Jean-Marc Ayrault considered the budget crucial to rein in public finances and reassure financial markets.

"This is a fighting budget to get the country back on the rails. It is a budget which aims to bring back confidence and to break this spiral of debt that gets bigger and bigger," he said while delivering the budget draft.

"If we abandon the (3 percent) target, our interest rates will rise immediately," he warned in a separate TV interview with state-owned France 2 TV channel.

However, economists saw the other face of the coin, expressing doubts over the government's over-optimistic targets whose risks forcing Ayrault's cabinet to tighten further the belt and weakening already flagging economy.

"The government's budget is not realizable simply because of growth. It's not sufficient enough to meet such objectives," Jean-Louis Mourier, economist at Aurel BGC told Xinhua.

"With an expected slight contraction of about 0.2 percent next year, the government will be constrained to further squeeze spendings and raise tax. It works on cutting deficit rather than righting the economic situation and that approach is too optimistic," he added.

Admitting economy worsen than expected, the French president Francois Hollande slashed the country's growth by 4 percentage points to 0.8 percent, pledging not to "spend a euro more in 2013 than in 2012."

For Nicolas Bouzon, director of Asteres economic research bureau, Hollande's first budget "needs too much effort to not hamper growth recovery and jobs creation."

"I think it's better for the government to reschedule its timing of deficit-cutting rather than rising roughly taxes that would badly affect growth," he noted.

Thanks to belt-tightening, France wants to collect 10 billion euros via a 75-percent tax on incomes above 1 million euros, and further 10 billion euros from taxes on consumers and businesses with 4 billion euros of tax already approved this year.

It also eyes to save additional 10 billion euros by freezing spending on public recruitment.

"When taxes increased, there is a massive disinvestment of companies, even when raising taxes on households, they will invest less as consumers will save more than consume and this fact is quite bad for the economic activity," said Patrick Artus, Natixis' research director. (1 euro = 1.289 U.S. dollar)