Home > News > World
Sunday May 4, 2014 MYT 4:40:02 PM
Sunday May 4, 2014 MYT 4:41:09 PM
PARIS (Reuters) - French President Francois Hollande expects an economic recovery that will allow the government to lower taxes, a newspaper reported him as saying on Sunday.
"The reform effort is not over yet, but the economic recovery is arriving. This phase will lead to stronger growth, better competitiveness and a redistribution of purchasing power via lower taxes," Journal du Dimanche quoted Hollande as saying.
Hollande, elected for a five-year term in May 2012, said "we have entered the second phase of my term".
During the election campaign, Hollande pledged to focus in the early years of his mandate on restoring France's finances before working to improve households' purchasing power once a lower budget deficit was on track.
On Tuesday, parliament approved a 50 billion euro deficit reduction plan that aims to cut France's public deficit to the European Union's ceiling of 3 percent of GDP by 2015.
"What I have learned is that France matters when its accounts are in good shape," the paper quoted Hollande saying.
(Reporting by Emmanuel Jarry and Geert De Clercq; Editing by Catherine Evans)
Kuwait says accepts Iraq request on Gulf war reparations
Australian police raid properties, not related to siege - authorities
Palestinian U.N. draft calls for Israel occupation end by 2017
Israel calls Palestinian U.N. draft a gimmick
Ladies, time to stand up and fight for your man
Looking out for your ears
Singapore govt’s Uber rival slammed as ‘stunningly pointless’
Airline introduces music to pair with meals
Sony cancels release of 'The Interview' following hacking incident
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)