French government will keep its pledge to trim the country's deficit target to 3 percent of the gross domestic product (GDP) in 2013 despite grim economic indicators that shrouded the Socialists' recovery plan, an official said on Tuesday.
"The target of 3 percent will be maintained. It's not only bearable but it's a commitment which will be hold," Francois Rebsamen, head of the Socialist group at the upper house of parliament told Senate Public TV channel.
"The president (Francois Hollande) said that we must keep this commitment because it is in the word of France, the independence of our country," he added.
Inheriting weak growth and wide budget gap, the Socialists in power since May, promised a "recovery in justice" to help the struggling second-largest European economy to be in line with European financial line and reach balanced finances by 2017.
With the aim, the government said additional 7 billion euros (9 billion U.S. dollars) were crucial to reach 4.5-percent deficit target this year. Another 33 billion euros were needed to trim the budget gap to 3 percent in 2013 that shows little sign of easing. (1 euro = 1.295 U.S. dollar) |