October 1, 2014 / 8:54 AM / 3 years ago

French budget planning overly optimistic for 2016-2017

PARIS, Oct 1 (Reuters) - France’s budget planning for the years ahead is based on overly optimistic assumptions even if it is more realistic than before, the country’s public finances watchdog said on Wednesday.

In a statement issued after Finance Minister Michel Sapin unveiled France’s 2015 budget bill, the High Council of Public Finances, an independent body set up by the current left-wing government, said the road map for 2016-2017 was more realistic than projections produced last April.

“The High Council nonetheless believes the scenario remains based on overly favourable tenets regarding the international climate and investment,” the watchdog said in a statement. (Writing by Brian Love; Editing by James Regan)

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