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With the measures announced Wednesday, Mr. Fillon said France might exceed its goal for next year, reaching a deficit level of 4.5 percent.
Although officials said the revision would not affect the government's goal of reaching a deficit of 4.6 percent of domestic product in 2011, the news was a reminder that, even after the problems from Greece's fraudulent deficit statistics, some numbers from the euro zone remain unreliable.
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The text of the speech projected a government deficit for 2016 of 2.18 trillion yuan, reaching a deficit-to-GDP ratio of 3%, which would be the highest since the founding of the People's Republic in 1949.
Although it reached a deficit of $42 million in 2001, it steadily pared its losses to $14 million last year.
The $500 billion in cuts, triggered by the failure on Monday of a congressional panel to reach a deficit deal, are to spread out over a decade.
But the government insists they are necessary to reach a deficit target of 6.8 percent of gross domestic product and secure financing from international creditors.
Since the November election, the president's approval ratings have risen, and opinion polls have shown a strong majority not only favoring his tax position, but saying they will blame Republicans for a failure to reach a deficit deal.
WASHINGTON Mere seconds after the leaders of a joint Congressional committee announced their failure to reach a deficit deal, the chairman of the House Armed Services Committee announced he would try to undo the consequences.
That should kick off talks to try to find some common ground and reach a deficit deal that would encompass changes to entitlement programs like Social Security and Medicare and an effort to overhaul and simplify the tax code.
If nothing is done and we go over the fiscal cliff, sequestration kicks in – automatic spending cuts that resulted from Congress's failure to reach a deficit reduction deal last year.
The failure of the "supercommittee" to reach a deficit agreement is supposed to trigger $1.2 trillion in automatic cuts in federal spending over the next decade, nearly $500 billion of that from the basic Pentagon budget.
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