The rate of growth in French business slowed further in September and missed market forecasts, a monthly survey showed on Thursday, as concerns over supplies of key goods weighed on the euro zone's second-biggest economy. Problems with global shipping and transport, caused partly by strict COVID-19 checks at Chinese ports, have resulted in supply chain issues for many companies around the world.
French President Emmanuel Macron's government defended its tax cuts and unprecedented pandemic spending on Wednesday as it turned in its budget plans for 2022, a presidential election year. Seven months out from the vote, right-wing candidates have already attacked the government over the 130 billion euros - nearly 6% of GDP - spent since the COVID-19 crisis erupted to keep households afloat.
France's public sector budget deficit is likely to come in smaller than expected this year and any extra tax income should go towards reducing the public debt, the budget oversight panel said on Wednesday.
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