France to keep promises on deficit
French Finance Minister Thierry Breton said today that France would keep a promise to reduce its public deficit to 3% of output in 2005. On the eve of a meeting with European Monetary Affairs Commissioner Joaquin Almunia, Breton stressed that the French public deficit would meet a target of 3% of gross domestic product in 2005, lower than a forecast of 3.2% by the EU commission. French newspaper Les Echos reported today that the French government had benefited from exceptional revenue of €2.3 billion at the end of 2005 from taxes on corporate profits. Breton did not confirm the figure and ruled out that government had met the target by the 'anticipation of receipts'.
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