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France to stick to planned spending cuts for now - source
January 15, 2014 / 4:51 PM / 4 years ago

France to stick to planned spending cuts for now - source

PARIS, Jan 15 (Reuters) - The French government’s plan to rein in public spending over the 2015-2017 period has not yet been changed, a presidential source said on Wednesday, a day after Francois Hollande announced 50 billion euros in spending cuts over the period.

The official said the plan remained under current budget projections to find annual savings of 18 billion euros ($24.64 billion)in both 2015 and 2016, followed by 13 billion euros in 2017.

In a news conference on Tuesday, Hollande had mentioned 17 billion euros of savings in 2017 in addition to the 18 billion euros in 2015 and 2016.

The source said that the pace would allow France to keep its commitments to reduce its deficit, but that more would probably be done and further details would come by March.

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