France plans to bring fiscal deficit to three-year standard

Paris, February 2 (Xinhua) France's Budget minister Eric Werthe 2nd that France plans to keep its fiscal deficit within 3% per cent of GDP by 2013 to meet EU requirements. Woerth said the French government 1st to the European Commission to submit the French economic stability Development plan.　　The plan predicts that as of 2013, France's fiscal deficit would be within 3% per cent of gross domestic product, but only if France's annual growth rate could recover from 2011 to around 2.5%.　　The French government recently estimated that the French economy could grow by 1.4% this year, while the fiscal deficit would be as high as 8.2% per cent of gross domestic product, far exceeding the 3% ceiling set by the EU Stability and Growth Pact. Woerth said, at the request of President Nicolas Sarkozy, the budget department is preparing a few weeks later to launch a package aimed at saving public spending, which plans to control annual growth in public spending within 1% per cent, while French public spending has grown by about 2% a year. In addition, the overall economic situation and the increase in government revenue will further promote the French government to effectively control the fiscal deficit.