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France needs 37 bln euros in savings by 2013 - finmin
PARIS, Sept 23 |
PARIS, Sept 23 (Reuters) - France needs a total of 37 billion euros in budget savings to reach its deficit target of 3 percent of GDP next year, including some 7 billion euros of taxes passed this year, Finance Minister Pierre Moscovici said on Sunday.
The government and state auditor have said that roughly 30 billion euros in budget savings would be needed next year, but Moscovici noted the total adjustment included some 7 billion euros in new taxes passed in a revised 2012 budget.
"It's not 30 billion, it's 37 billion," Moscovici told France 3 television. "There are 7 billion which were already provided for in the revised 2012 budget in July."
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