April 9, 2014 / 7:11 AM / in 4 years

French PM says to clarify pace of deficit reduction soon

PARIS, April 9 (Reuters) - France’s new prime minister, Manuel Valls, said on Wednesday he would clarify in the next few days the pace at which the country would reduce its public deficit.

Valls unveiled planned tax and public spending cuts on Tuesday, vowing to bring France’s public deficit down while resisting outright austerity.

“We will detail our budget trajectory in the next few days,” Valls told BFM TV.

When asked if he would request that the European Union grant more time to bring France’s deficit down from 4.3 percent of GDP to 3 percent by 2015, Valls said: “There are discussions with (French Finance Minister) Michel Sapin and (EU) Commissioner Olli Rehn.” (Reporting by Jean-Baptiste Vey; Writing by John Irish; Editing by James Regan)

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