September 24, 2018 / 9:14 AM / 3 months ago

French watchdog says GDP, deficit forecasts in 2019 budget are 'plausible'

FILE PHOTO: People walk near the Arche de la Defense in the financial and business district of La Defense, west of Paris, France March 26, 2018. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The French government’s economic growth and public deficit assumptions underlying its 2019 budget are “plausible”, France’s independent fiscal watchdog said on Monday.

The government said earlier this month that the public sector budget deficit was expected to rise to 2.8 percent of gross domestic product next year from 2.6 percent this year.

“The public deficit forecast is plausible for 2019 in light of the macroeconomic projections, planned tax cuts in 2019 and provided that spending plans are strictly respected,” the fiscal watchdog said in a statement.

The budget, due to be published later on Monday, is based on expectations that the economy will grow 1.7 percent both this and next year.

Reporting by Leigh Thomas; editing by Richard Lough

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