December 10, 2018 / 7:52 AM / 10 months ago

French deputy finance minister: 2018 GDP will be closer to 1.5 percent

PARIS (Reuters) - France’s economy will grow by a slower-than-expected 1.5 percent this year, the country’s deputy finance minister said on Monday, as a wave of nationwide unrest and violent protests in Paris hurts retail and the tourism industry in the Christmas run-up.

Agnes Pannier-Runacher echoed her boss Bruno Le Maire’s forecast for the “yellow vest” protests to trim GDP by 0.1 percentage points. The government’s official estimate is for 1.7 percent growth, while the INSEE statistics agency forecasts 1.6 percent.

“Growth will be more like 1.5 percent,” Pannier-Runacher told LCI television.

Reporting by Myriam Rivet; Writing by Richard Lough; Editing by Sudip Kar-Gupta

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