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Financial News: France's Maastricht Debt Declines In Q4

France's Maastricht Debt Declines In Q4

03/26/2018 - 03:31:00 (RTTNews)

(RTTNews) - France's Maastricht debt declined in the fourth quarter, data from the statistical office Insee showed Monday.

The Maastricht debt fell by EUR 12.9 billion from the previous quarter to EUR 2.21 trillion in the fourth quarter. The debt accounted for 97 percent of GDP versus 98.3 percent in the last quarter.

By contrast, the net public debt increased by EUR 11.6 billion.

Another report from Insee showed that public deficit totaled EUR 59.3 billion in 2017. This was equivalent to -2.6 percent of GDP compared to -3.4 percent of GDP in 2016.

As a share of GDP, expenditure decreased to 56.5 percent from 56.6 percent. Meanwhile, revenues went up to 53.9 percent from 53.2 percent.

The statistical office revised up the economic growth for the fourth quarter to 0.7 percent from 0.6 percent. GDP had expanded 0.5 percent in the third quarter.

In the whole year of 2017, the economy grew 2 percent, as initially estimated, after rising 1.1 percent in 2016.

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