PARIS
France's budget deficit increased to 84.1 billion euros at the end of July 2014, according to a statement from the budget ministry.
Declining revenue and increased investments are the main causes of the increase from last year's 80.8 billion euros, read the statement.
Last year, the European Commission, dissatisfied with the state of public finances in France, granted the country two years to reduce its budget deficit to 3 percent of GDP by 2015 and zero percent after two years.
The figure released Tuesday show the deficit to be more than 4 percent, exceeding the European limit.
In April, French lawmakers approved a controversial plan - called the "responsibility pact" - to save 50 billion euros in order to reach its deficit reduction goal.
The initial budget law for 2014 was estimated at an annual deficit of 82.6 billion euros, a figure revised upwards to 83.9 billion in the amended finance law.
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