2 July 2001, 11:22  FABIUS - NO PUMPING UP PUBLIC SPENDING TO OFFSET FRENCH ECONOMIC SLOWING

PARIS, July 2 - The French government will not let public spending surge in an attempt to stimulate the economy in response to the current slowdown, French Finance Minister Laurent Fabius said on Monday. Fabius, confronted with forecasts of 2.3 percent growth this year after predicting 3.3 percent 2001 expansion in the 2001 budget bill last September, said now was neither the time to boost spending heavily nor rein back expenditure heavily. "There will be no explosion in public spending," he told RTL radio in an interview.

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