France will pursue 14 billion euros ($18.2 billion) in spending cuts next year as it attempts to reduce the public deficit to 3 percent of economic output by 2015, Le Monde reported, reports Reuters.
France's Socialist government aims to tame the deficit by trimming ministerial budgets, cutting state aid to companies and reducing local government funding.
With the economy back in a shallow recession, jobless claims at an all-time high and his approval ratings around 30 percent, President Francois Hollande has been reluctant to accelerate the cuts.
Annual growth in overall wage costs for French public employees will be cut to 0.15 percent from 3 percent, chiefly through pay restraint, the French daily said on its website.
Read more of this report from Reuters.