Latest News:  


Hollande pledges to put public finances in order by 2017


15:49, February 24, 2013

PARIS, Feb. 23 (Xinhua) -- French President Francois Hollande on Saturday reiterated his promise to reach zero deficit by 2017 via public spending cuts and growth stimulus.

"The path is that of achieving a balanced public finances at the end of the mandate. To meet that goal, there is no need to add more austerity in 2013. A lot has already been asked of the taxpayer," Hollande said during an annual agriculture show in Paris.

In a bid to respect the EU deficit limit of 3 percent, Hollande planned in 2014 to squeeze public spending by clinching the belt of the state budget, local budgets and the social security budget.

On Friday, The European Commission painted a grim picture of the French economy set to flatline with just 0.1-percent growth, while the country's budget gap will remain above the European safe line.

"Figures from the European Commission take into account the slowdown and even recession throughout Europe... The Commission notes that we have made a considerable effort," the president said.

With an expected feeble growth, the unemployment rate would rise further, Hollande acknowledged.

"If we can accelerate, anticipate recovery in 2014, we will create more new jobs," he added.

Expecting "a great battle for jobs" in 2013, the French head of state pledged to overturn the alarming unemployment rise by the end of this year through tens of thousands of state-sponsored job contracts.

We recommend:

Backstage of Ralph Lauren 2013 Fall collections

New York slammed with heavy snow

"Swan Lake" rehearsed in Mexico

Costumed revellers gather in Venice

People protest against DPRK's nuclear test

Chinese Lunar New Year celebrated around world


Leave your comment0 comments

  1. Name


Selections for you

  1. Su-30 fighters in attack and defense training

  2. Armored brigade in snowfield training

  3. Heavy snowfall shrouds beautiful Lake Bled

  4. Lantern Festival celebration

  5. Attractive girls at an art college's enrollment site

  6. Chinese receive Lantern Festival

  7. Wedding dress show in Shanghai

  8. Yao ethnic villagers sacrifice bull to ancestor

  9. Geely posts sales and stock surge

  10. Job fair in Beijing

Most Popular


  1. Open communication for Peninsula peace
  2. Spring Festival offers window into China
  3. Fatter red envelopes miss point of tradition
  4. Opportunities amid challenges
  5. Children deaths lead to calls for better guardianship
  6. New CPC leadership's first 100 ruling days inspiring
  7. Keeping the brand full of beans
  8. Brighter outlook for property companies
  9. Lantern Festival losing its luster
  10. How to build new type ties between big powers?

What’s happening in China

Provocative propaganda on environmental protection leaded by Chen Guangbiao

  1. Frugality campaign improves operation of eateries
  2. Doubts raised about pension system
  3. 4.2-magnitude quake hits SW China
  4. Fire kills 8 in east China city
  5. 353 arrested for online train ticket scalping