Macron's final pre-election budget announced

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Draft budget legislation submitted to the French parliament on Wednesday included an increase in spending on defence, education and justice, while economy and finance minister Bruno Le Maire said the public deficit, now at 8.4 per cent of gross domestic product, will be brought back below 3% of economic output by 2027.

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French President Emmanuel Macron’s final budget before elections in April omitted details on signature programs for long-term investment and supporting jobless youth, as his government sought instead to underscore his record on cutting taxes and reducing the deficit, reports Bloomberg.