France cannot seek a delay on deficit cutting target: EU’s Pierre Moscovici

France, the euro zone's second largest economy, foresees a reduction in its deficit to 2.8 percent of gross domestic product this year, which would be the first time since 2007 that it has met an EU-imposed limit of 3 percent.

By: Reuters | Paris | Published:July 3, 2017 1:24 pm
France, France EU, France EU deficit,  Pierre Moscovici, EU, european union, latest news, latest world news European Economic and Financial Affairs Commissioner Pierre Moscovici. (Source: Reuters)

European Union Economic and Financial Affairs Commissioner Pierre Moscovici ruled out on Monday a possible request from France to delay its efforts on cutting its deficit. France, the euro zone’s second largest economy, foresees a reduction in its deficit to 2.8 percent of gross domestic product this year, which would be the first time since 2007 that it has met an EU-imposed limit of 3 percent.

“It is out of the question, no delay, only a serious budget policy needs to be on the table,” Moscovici told France 2 television when asked if France could possibly postpone this target.

New finance minister Bruno Le Maire said on June 23 that his government would implement “difficult” measures this summer to ensure France honours its pledge on cutting the deficit.

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