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French central bank sees 2016, 2017 growth of 1.3 percent
December 9, 2016 / 6:11 AM / a year ago

French central bank sees 2016, 2017 growth of 1.3 percent

PARIS (Reuters) - The French economy will grow 1.3 percent this and next year before picking up speed afterwards, the Bank of France said on Friday in its biannual economic outlook, trimming slightly its forecasts.

A general view shows the illuminated Eiffel Tower (R) and rooftops at night in Paris, France, November 28, 2016. REUTERS/Charles Platiau

The French central bank estimated that growth would pick up to 1.4 percent in 2018 and 1.5 percent 2019 as faster euro zone activity offsets weaker domestic demand.

The government has built its 2017 budget on expectations for growth this year of 1.4 percent and 1.5 percent next year and anything less would put its deficit cutting promises at risk.

The Bank of France estimated that the public deficit would fall from 3.3 percent of economic output this year to 3.1 percent in 2017, missing the current government’s target for 2.7 percent and an EU-imposed limit of 3.0 percent.

Reporting by Leigh Thomas; Editing by Mathieu Rosemain

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