France lowers deficit forecast, vows no new taxes

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Finance minister Michel Sapin has revised France's expected 2015 deficit down to 4.1 percent from the 4.3 percent previously forecast.

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France's finance minister cut the country's deficit forecast for 2015 on Wednesday adding that Paris will be well within the EU's 3 percent limit by 2017, reports the EUobserver.

Michel Sapin told a press conference that he had revised France's expected deficit down to 4.1 percent from the 4.3 percent previously forecast, as a consequence of extra savings worth €3.6 billion announced by Sapin in October.