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French budget gap at 56.5 bln euros, down 5.5 pct in April

Xinhua, June 7, 2016 Adjust font size:

France's Budget Ministry on Tuesday announced narrowed budget deficit to 56.5 billion euros (64.4 billion U.S. dollars) in April compared to 59.8 billion euros the same month in 2015.

Last month's public spending declined by 2.7 percent to 131.3 billion euros, the ministry's monthly report showed.

The spending value is in line with the government's 2016 financial budget in which it wants to slash the gap to 3.3 percent of output this year, the ministry added.

Due to a 3.9-percent growth of fiscal net receipts, the value of the country's total revenue increased by 5.6 percent at the end of April to 98.5 billion euros from the same month in the previous year.

Under pressure to reach healthy finances, the French government promised to bring down the budget deficit to 2.8 percent, below the EU-mandated threshold by 2017. (1 euro = 1.14 U.S. dollars) Endit