OREANDA-NEWS. October 15, 2010. Philippe Marini, a French senator, praised the Estonian budget policy in the light of the economic crisis, as Estonia managed to build up reserves during several years before the crisis.

Marini, the main rapporteur in the French Senate, said that France was in a different situation, as since 1958 the state budget had had a surplus only twice since 1958.

At the same time serious work is underway for the improvement of the next year's budget position in France, the state is preparing a pension reform and planning budget cuts, Marini Monday told reporters. He added that the government was firm in carrying out its plans and the extensive people's protests against reform plans were a peculiarity of the French political arena.

Marini said that member of the eurozone had to stick to the pact of stability and growth, which means fitting into the Maastricht criteria. Marini explained that in the situation of crisis countries started to support their economies and this brought fiscal policy out of balance. He added that countries themselves had to add guarantees and help their people.

In Marini's opinion the worst period of the economic crisis was over.

French Budget Minister Francois Baroin said in September that the state was planning to bring the budget shortfall to 2 percent of the gross domestic product. Baroin added that the supreme aim was to bring the French budget nearly into a balance. The forecast for the budget shortfall of of the French budget is 7.8 percent. France has promised to bring the budget surplus to the level of 3 percent by 2013.