France's public budget deficit stood at 2.9 pct of GDP in 2005, down from 3.7 pct the year before, and bringing the country back into line with the euro zone's Stability and Growth Pact, which requires countries to keep their budget deficits below 3 pct of output. The budget deficit was also lower than the 3 pct level forecasted by the French government, and marks the first time that France's budget deficit has met the stability pact requirements since 2001. However, France's public debt rose to 66.8 pct of GDP at the end of last year from the 64.4 pct seen in 2004. The government had expected debt would increase to just 66.4 pct of GDP last year. The French government has promised that French debt will be gradually reduced in the coming years, declining to under 60 pct of output by 2010.