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PARIS, Sept 1: France said on Monday it had told the European Commission it expected to register a 2003 public deficit of 4.0 per cent of gross domestic product (GDP), busting the EU’s three per cent limit for the second year running.
The French deficit hit 3.1 per cent of GDP in 2002.
Many economists expect France to break the limit three years running — a scenario that would risk fines. Paris faces an October 3 deadline to come up with measures to avoid it busting the EU limit in 2004.—Reuters
