Paris, France -- (SBWIRE) -- 10/13/2014 -- Despite the government's promise to reduce spending by $26.5 billion in 2015 and $18.3 billion in 2016 and 2017. Authorities confirmed its forecast that France will take another two years to reach the level of the budget deficit below 3% of GDP.

The head of economic research at Natixis Asset Management Philippe Waechter said that the country should not be difficult to obtain approval from the EU authorities postponement targeted value budget deficit.

"When we look at the growth rate of the French economy, which is heavily dependent on government spending, we are aware that their decline poses a risk to economic growth in France and throughout the euro area", - said Waechter.

The social security system will undergo a drastic reduction that allows the government to save more than $25 billion over the next three years.

French authorities expect that the state budget deficit will amount to 4.4% of GDP in 2014, in 2015 to fall to 4.3% in 2016 - up 3.8%. In 2017 the value of the state budget deficit is below the target of 3% to 2.8%.

In this case, the projections are based on expectations of economic growth. According to government estimates, the volume of the French economy will grow by 0.4% this year and 1% next year.

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