France To Meet 2016 Budget Gap Target Despite High Security Bill: Finmin

France is to honor its financial commitment to trim the budget gap to 3.3 percent in 2016 despite an unexpected rise in security expenses to cope with the recent terror attacks, Finance Minister Michel Sapin said on Thursday.

"I won't set any budgetary obstacles to ensure internal and external security of the French, but France will also not drop this necessary target to decrease our deficits," Sapin told BFMTV news channel.

In the wake of the recent wave of explosions and shootings in the French capital on Nov. 13, the Socialist government pledged to tighten security measures including the deployment of additional thousands of police units to check national borders and protect public and sensitive places.

Already under pressure to squeeze spending to honor its commitment, France's estimated security bill stands at 600 million euros (636 million U.S. dollars) to be added to next year's budget draft.

Under their 2016 financial plan, the governing Socialists forecast the budget deficit at 3.3 percent of gross domestic product (GDP) next year compared to an expected 3.8 percent this year. It pledged to lower the figure below the European Union (EU)-mandated threshold of 3.0 percent in 2017.

For 2015, the ruling Socialist party pledged to save 25 billion euros to meet its fiscal target after breaking its financial pledges several times since they took power in 2012. (1 euro = 1.06 U.S. dollars)
(Cihan/Xinhua)