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France records wider budget gap in Aug. at 106.73 bln USD

Xinhua, October 7, 2016 Adjust font size:

At the end of August, France reported wider budget deficit at 96 billion euros (106.73 billion U.S. dollars), up by 7 percent from the same month last year, the finance ministry said on Friday.

The value of public expenditures rose by 1 percent to 252.5 billion euros over the period, due to 6.1-billion-euro fund offered to state-run Services and Payment Agency.

However, the state spending remained in line with government's 2016 budget draft in which it targeted to trim the gap to 3.3 percent of the gross domestic product from 3.5 percent recorded in 2015, the ministry said.

A 3.1 percent-growth of net tax receipts helped the country to collect high revenue which totaled 192.7 billion euros over the period.

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 = 1.1 U.S. dollars) Endit