French parliament approves 2008 budget
The country's 2008 budget foresees a deficit of 41.7 trillion euros (60 trillion dollars).PARIS, December 19, 2007 - French lawmakers gave final approval Wednesday
to the country's 2008 budget, which foresees a deficit of 41.7 trillion euros
(60 trillion dollars).
The Senate approved the budget by a vote of 195 to 125, several hours after
lawmakers in the lower-house Assemblee Nationale passed it.
The International Monetary Fund recently criticised the budget as being
based on over-optimistic forecasts, saying given the difficult global outlook
the French economy would likely grow by 2.0 percent rather than the 2.25
percent assumed in the budget.
Opposition lawmakers criticised the budget for removing tax breaks for the
elderly while cutting taxes for the rich by reducing taxes on stock dividends.