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France to revise down 2014 growth forecast, raise deficit - report
September 11, 2013 / 9:08 AM / 4 years ago

France to revise down 2014 growth forecast, raise deficit - report

PARIS, Sept 11 (Reuters) - France is to trim its growth forecast for 2014 from 1.2 percent to 0.9 percent and hike its budget deficit projections for this year and next, reflecting a slower-than-hoped recovery, Les Echos newspaper reported on Wednesday.

The widely expected new forecasts, revised from April, put the government’s projections more in line with those of the European Commission and the bulk of independent economists. France will thus be taking adavantage of an extra two years given by the EU to rein in its deficit to below 3 percent of output.

The new figures come as part of the 2014 budget plan. The government is also expected to confirm in a news conference later on Wednesday that it would curtail its plans for a new round of tax increases next year and rely more on savings. (Reporting by Ingrid Melander; editing by Mark John)

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