French FinMin sees 2017 budget deficit at 2.9% of GDP, 2018 at 2.6%

French Finance Minister Le Maire crossed the wires now, via Reuters, speaking to France 2 TV on the 2018 Budget.

Key Points:

Sees 2017 budget deficit at 2.9% of GDP, 2018 at 2.6%

Wealth must be created before it can be distributed

2018 budget will support French economy

Public spending will be cut from 54.6% to 50% of GDP in 5 years

Spending likely to be cut by EUR16bln in 2018