France revises deficit target for 2015

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France revises deficit target for 2015

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France is to cut its public deficit to 4.1 percent of economic output in 2015. That is down from a previous target of 4.3 percent. The figure comes after new measures to avoid EU sanctions.

France was given another two years in 2013 to cut its deficit down to the EU limit of 3 percent of GDP but said in September it would miss that 2015 target and only fall to 4.3 percent.

It then offered to trim the deficit by around another 3.7 billion euros but only announced the new target on Wednesday.