France draws up 26 bln euro stimulus package

Thu Dec 4, 2008 6:01am EST
 
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DOUAI, France, Dec 4 (Reuters) - The French government has drawn up a 26 billion euro ($32.9 billion) stimulus plan for the faltering economy, or around 1.3 percent of gross domestic product, according to official documents seen on Thursday.

The package will boost French growth by around 0.6 percent next year, but will also push the deficit to 3.9 percent of GDP against a previous target of 3.1 percent.

President Nicolas Sarkozy is due to unveil the package later on Thursday, which is expected to focus on investment and infrastructure projects rather than consumers. (Reporting by Anna Willard and Crispian Balmer)

 

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