France to focus on spending cuts in 2014 - Hollande
February 24, 2013 1:21 AM EST
France will focus on spending cuts to bring down its deficit to three percent of GDP in 2014 but is not planning extra austerity measures this year, French President Francois Hollande said on Saturday.
"It would be wrong to take measures that put another brake on consumption and investment," Hollande said at the annual farm show in Paris.
He also said that while his government's effort to reduce the state deficit had up to now mainly focused on increasing state revenues, the focus from 2014 would be more on reducing state spending.
(Reporting by Geert De Clercq; Editing by Sophie Walker)
Most Popular Slideshows
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Apple iPhone 6 Plus vs Motorola Droid Turbo: Comparsion On Processor, Software And Battery
- Australia Special Forces Await 'Delayed' Iraqi Visas Before Joining ISIS Fight
- ISIS Has Been Equipped With Advanced Anti-Aircraft Missiles
- 8 Important Things to Consider Before Buying or Upgrading to iPad Air 2
- Canada’s Official ISIS Mission Starts On Weekend; Kuwait Uneasy