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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap France announces 45 bln euros in spending cuts by 2013 AFP - Sunday, June 13 Send IM Story Print France announces 45 bln euros in spending cuts by 2013 PARIS (AFP) - – France will slash state spending by 45 billion euros (54.5 billion dollars) in the next three years to get its public deficit back down to three percent, Prime Minister Francois Fillon said on Saturday. In France's first announcement of austerity measures as bond markets have mounted pressure on European nations, Fillon said the government would cut the public deficit by 100 billion euros, with half coming from slashing spending and half from increasing revenues. "We've taken a commitment to bring down our deficit from eight to three percent by 2013 and we will concentrate all of our efforts on it," Fillon said at a meeting of new members of his UMP party. The prime minister said state spending would be cut by 45 billion euros. Closing tax loopholes will bring in five billion euros, and a rebound in the economy should bring in an additional 35 billion euros, he added. "As and when growth returns, revenues will grow once again," said Fillon. The remaining 15 billion euros will come from halting temporary measures to boost the economy, said the prime minister. Recommend Send IM Story Print News Search Top Stories Search for survivors in deadly US floods resumes France plans to cut spending by 45 bln euros France announces 45 bln euros in spending cuts by 2013 Obama, Cameron to discuss BP spill Britain honours actress Zeta-Jones, F1 racer Coulthard More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Euro to hit dollar parity in 2011, if still exists: analyst Ahmadinejad blasts US, says Israel is 'doomed' Britain honours actress Zeta-Jones, F1 racer Coulthard Search for survivors in deadly US floods resumes Obama has made 'big mistake' with Iran: Ahmadinejad More Most Viewed » Hubble catches planet being devoured by its star The point about pain: New study sheds light on acupuncture Clashes as Israeli forces storm Gaza aid boat: Hamas TV Egypt unearths tomb of pharaonic army chief Physicists solve mystery of missing neutrinos More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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