30-Sep-2010 1:28 PM

French Government deficit to decline in 2011

French Budget Ministry stated (29-Sep-2010) the government budget deficit would decline to EURR92 billion, or 6% of GDP, in 2011, from EUR152 billion, or 7.7% of GDP, for the largest budget deficit reduction in two decades. The reduction stems mainly from the end of recession stimulus and one-time investments. Tax revenue and spending will remain virtually unchanged.