French prime minister François Fillon said yesterday his government was determined to improve the health of public finances and push on with reforms to deliver extra growth in the euro zone's second biggest economy.
Mr Fillon laid out the reforms already passed by parliament since president Nicolas Sarkozy's May election, and said more were in the pipeline for the fourth-quarter of 2007 and for 2008, with greater labour market flexibility one of the goals.
"For more than a decade our country has been living with a growth rate that is lower than its main European partners. It is neither the fault of Europe nor of globalisation - it is our responsibility."
Mr Fillon said the government would seek to attack two key ills afflicting the economy - the state budget and social security deficits.
"First, that of the public deficit, whose chronic nature is nothing other than a sign of bad management of France. The 2008 budget marks our fierce will to keep a hold on public finances. We will hold the course, in line with our commitments."
Mr Sarkozy has promised euro zone countries that France will cut its budget deficit to 2.4 per cent of GDP this year from 2.5 per cent of GDP in 2006.
Mr Fillon also spoke of measures to put the social security budget on a better footing, including plans to lengthen, to 41 years from 40, the number of years employees would be required to work before being eligible for a full pension.
