Socialists shift France to an austerity budget

France's Socialist government unveiled an austerity budget for 1983, reinforcing its drive to curb inflation and marking a contrast with the expansionist policies of its first year in office.

Outlining the budget bill after its approval by the Cabinet, a presidential spokesman said state spending was set to increase 11.8 percent to $125.8 billion next year. This compares with a 28 percent increase in the 1982 budget. The spokesman said the 1983 deficit had been set at $16.8 billion, a 24 percent rise on last year's target and within the ceiling of 3 percent of gross domestic product set by President Francois Mitterrand earlier this year.

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...