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French budget gap widens by 5.6 pct in June

Xinhua, August 9, 2016 Adjust font size:

France's budget deficit widened to 61.8 billion euros (68.5 billion U.S. dollars) by the end of June from 58.5 billion euros a year earlier, the Finance Ministry said on Tuesday.

The ministry said "an exceptional advance" of 5.4 billion euros were allocated to the Services and Payment Agency.

Excluding the advance, the country's deficit gap can be narrowed by 2 billion euros, it added.

The public expenditure was down by 2.2 percent to 193.9 billion euros over the period.

The state spending in June remained in line with the government's 2016 budget draft in which it targeted at a gap of 3.3 percent of the gross domestic product against 3.5 percent in 2015.

Growing net tax receipts helped the country to collect high revenue which totalled 155.1 billion euros over the period, up from 152.4 billion euros recorded in June 2015. (1 euro = 1.1 U.S. dollars) Endit