- Didier Migau,d, head of la Cour des Comptes
According to the French audit office, Francois Holland's government is overoptimistic about tax revenues and the results of its austerity measures. France is facing a significant risk of missing its deficit target this year, urging the Socialist government to undertake greater efforts to cut public spending. While last year's figure has not been confirmed yet, the government has predicted a deficit of 4.1% of the nation's GDP in 2013. The gap is estimated slim down to 3.6% this year and 3% in 2015. However, there is a significant threat that the public deficit exceeds the latest government's forecast for 2013. Also, it is expected that this year's tax revenue might come as much as 6 million euros short of target after income was overestimated last year.
Meanwhile, currently Francois Hollande is visiting his U.S. colleague to boost cooperation between the two countries and investment by U.S. companies. The U.S. and France are establishing a joint forum to expand investment and trade. Obama believes that the commercial relationship with France and gain from the Trans-Atlantic Trade Partnership would be a great benefit for small to large companies in both countries.
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