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French signal speedier deficit move

French Prime Minister Jean-Pierre Raffarin has promised to cut the country's public deficit to less than 3% of gross domestic product in 2005 amid signs his government is responding to EU criticism over excessive spending.

Meanwhile, finance minister Francis Mer said the French government hoped to trim the deficit to under 3.7% of GDP in 2004 from an estimated 4% this year.

Mr Raffarin's remarks brought forward by a year the previous date of 2006 signalled by France for bringing its finances into line with rules which underpin the single currency.

He was speaking a day after the European Commission - which has given France until October 3 to present a satisfactory deficit reduction programme - approved a re-drafted rescue for French engineering giant Alstom.