Summary Box: France proposes $54B in spending cuts in 2011 as it tries to rein in deficit

Summary Box: France’s budget for 2011

THE CUTS: France plans to eliminate $54 billion in spending by reducing economic stimulus measures and eliminating some tax breaks. International investors and other European nations have been pressuring France to reduce its deficit.

THE GOALS: The nation’s deficit was 7.7 percent of the gross domestic product in fiscal 2010. France has pledged to cut the deficit to 6 percent of the GDP in 2011 and 3 percent by 2013.

THE TARGET: The government is forecasting 2 percent economic growth in 2011, up from 1.5 percent in 2010.