The Cour des comptes presents its annual report on the financial situation and outlook, prepared in accordance with article 58-3 of the Constitutional Bylaw on Budget Acts (LOLF in French, for 'loi organique relative aux lois de finances') with the purpose of informing Parliament’s discussions on budget guidelines. In 2014 public deficit was only slightly reduced. France’s financial position remains more unbalanced than that of many European countries. Although the public deficit reduction target for 2015 is limited, compliance therewith requires great vigilance with regard to expenditure. The objective for 2016 and 2017 is more ambitious; however, it is based upon savings measures which are not precisely identified at this stage.