French 2013 deficit, debt higher than expected


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

PARIS (AP) — France's state statistics agency says the deficit shrank less than expected last year, and debt continued to grow to 93.5 percent of GDP.

The figures released Monday are the latest sign of trouble for the unpopular Socialist government, expected to be replaced imminently.

The Socialists suffered a blow in nationwide municipal elections Sunday amid widespread disappointment at President Francois Hollande's handling of the stagnant economy and persistently high unemployment.

The Insee statistics agency says the deficit was 4.3 percent in 2013, above the 4.1 percent the government had promised and above EU targets.

The French economy avoided sinking into a new recession, growing 0.3 percent in the fourth quarter, up from a 0.1 percent drop in the previous quarter. But the overall prospects for growth are slow.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast