The French finance minister Michel Sapin, swept Sunday speculation about the criticism that the European Commission could issue on draft state budgets and social security for 2015 and on budget execution this year .
The Commission will say in November if the choice of France are in line with EU rules, despite the violation undertaken by Paris of its commitment to reduce the public deficit to 3% of GDP at end 2015
“All that is said is said today in the air,” said Michel Sapin on the show Le Grand Rendez-vous Europe 1-i & gt; TELE-Le Monde. He was asked about the possibility of the French budget to be “retoqué” the EU executive.
France will not reduce its deficits as expected next year, but “I do not ask any derogation no rules, “said the finance minister, saying that” these rules must apply equally to everyone. “
By providing lower levies on businesses 40 billion euros over three years and providing 21 billion euros in savings next year, “the France takes its responsibilities,” said Michel Sapin.
“But Europe also needs to take its responsibilities and to respond to the economic situation today, otherwise it could stay long, far too long in a very slow growth with low inflation. “
The government on Wednesday presented its draft state budget for 2015 which will see the deficit barely fall next year to 4.3% of GDP against 4.4% expected in late 2014, far from the commitment of France to bring 3% end of 2015.
The Minister of Finance has the gap on account of slower growth and inflation, ensuring it would carry out all the planned savings, 21 billion for the state, social security and local authorities.
The discussion with the Commission will focus on the effort to reduce the structural deficit, which has not been and will not be as large as expected. The concept of structural deficit, which neutralises the impact of the economic cycle, is now at the heart of budget review by the Commission.
Instead of a structural adjustment of 0.8 promised France in 2014 as in 2015, the adjustment will be only 0.5 and 0.6 under the old calculation method and 0.1 and 0.2 in a new way.
(Jean-Baptiste Vey, edited by Labbé China)
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