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Forecast for 2019: France's debt is probably higher

France could tear 2019, with its budget deficit to the EU ceiling. The deficit will be, according to Premier Philippe expected to be around 3.2 percent. The reason for the debt concessions to the "yellow vests".

France will crack because of the concessions of the President of Emmanuel Macron to the so-called yellow the West expected that the European deficit limit of three percent of gross domestic product in the coming year.

President Richard Ferrand said the "Journal du Dimanche" and that he expected a deficit of 3.4 percent of gross domestic product (GDP). Prime Minister Edouard Philippe said in an Interview with the newspaper "Les Echos", by contrast, 3.2 percent of the GDP. In both cases, the deficit would be above the EU limit of three percent of economic output.

After a week-long "yellow West"protests, the President of France Emmanuel Macron made the concessions to the protesters - which places a burden on the budget difficult.

hole of tens of billions of euros in budget

The concessions Macrons - including an increase in the minimum wage of 100 euros per month and a waiver of tax increases for people with low pensions - are likely to tear a hole of tens of billions of euros in the draft budget of the government. Ferrand, defended the high level of deficit with the note that it was a cyclical, not a structural phenomenon.

Prior to the start of the wave of protests against high living and fuel prices in France had planned a deficit for 2019 from 2.8 percent of GDP. EU economy Commissioner Pierre Moscovici had said on Thursday, Exceeding the deficit target in France could be tolerated, as long as it was a temporary Problem.

France: Macron risking higher borrowing, 11.12.2018 Atlas France |Paris

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