France's January budget deficit up year-on-year

08:38, March 12, 2010      

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France's budget deficit in January reached 9.2 billion euros (12.6 billion US dollars), higher than the 8.1-billion-euro figure registered in the same period last year, Budget Minister Eric Woerth said Thursday.

The minister said France's public expenditures in January amounted to 27.3 billion euros, up by 5 billion euros over a year ago while its public revenue increased to 20 billion euros from 17.9 billion euros recorded in the corresponding period last year.

Woerth contributed the increased central government expenditure to an earlier financial allocation to local governments.

The French government predicted a total budget deficit of 149.2 billion euros for the entire 2010, a figure higher than the 138 billion euros recorded in 2009.

Despite the increased budget deficit, the minister said there were some encouraging signs with the French economy in January.

Statistics showed that in January France's industrial production edged up by 1.6 percent over a year ago while its trade deficit recorded a decline, indicating an improvenment in the country's exports.

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