Brussels, 02/03/2005 (Agence Europe) - Asked about the possible consequences, possibly in the framework of the excessive deficit procedure and the most recent amendments to France's budget figures for 2004, the spokesperson for the European Commissioner for economic and monetary affairs said that at the moment there was no new response to be added to the situation. On Monday the institute de statistique national français, INSEE, revised figures for the French budget deficit 2004 upwards (3.7% instead of 3.5%). In Italy, Istat also revised the 2004 budget deficit for the country upwards from 2.9% to 3%. Sending Member States' revised data for last year and the previous three years is a “normal phase” in Eurostat's budgetary surveillance, insisted the spokesperson. The Spokesperson added that this would help validate accounts by 18 March.
In December 2004, the Commission recommended the suspension of the excessive deficit procedures against France. It believed that the measures taken should allow for the deficit to return to 3% in 2005 (EUROPE 15 December p 12). However, it did state that the budget situation remained fragile. It confirmed this impress following the reading of the French stability programme (EUROPE 3 February p 10) and which can be checked at the presentation of the Commission's spring economic forecasts on 21 March.