France's February budget deficit widens to €25.6bln

France's budget gap widened by 2.2 billion euros (2.5 billion U.S. dollars) to 25.6 billion euros at the end of February compared to the same month last year, the French Budget Ministry said Friday.

"This difference is the result of an exceptional 5.4 billion euro loan granted to the agency services and payment agency that will be repaid in the current year," the ministry added in a statement.

French revenues reached 48.4 billion euros in February, up by 1 percent from the same month in 2015 while public expenditure was at 60.6 billion euros in total, down from 64.2 billion euros.

For the whole year of 2016, the French government is targeting a budget deficit of 3.3 percent of the gross domestic product against 3.5 percent in 2015. (1 euro=1.14 U.S. dollars)