French Social Security Deficit Warning

France's Social Affairs Minister, Jacques Barrot, has acknowledged in apolitical debate that 1997 will produce a social security deficit 5 billion French francs ($855 million) higher than the 30 billion francs forecast earlier, and provided for in the recent bill for the financing of the social security system.

The 1997 deficit added to the loss carried forward from 1996 means, Mr Barrot said, a debt of 70 billion francs. Spending, including that on health services, will continue to be cut to match state receipts, he said, adding that the aim is stability.