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CERNOBBIO, Sept 6: French Economy Minister Christine Lagarde on Saturday said France was reviewing its budget deficit targets after cutting its growth expectations for the year.
Asked if France would meet its target of a budget deficit of 2.5 per cent of GDP for 2008 and 2 per cent for next year, Lagarde told Reuters on the sidelines of a business conference:
“Clearly, in light of the economic circumstances, we are giving a second look at each and every number.”
On Monday, the government cut its 2008 growth forecast, saying the French economy would expand by just over 1 per cent, well below an official range of 1.7-2.0 per cent.—Reuters
