France cuts 2016, 2017 growth forecasts

[PARIS] France's economy will expand at a slower rate than earlier thought in 2016 and 2017, the finance ministry said in new forecasts published on Wednesday.

Growth is expected to reach 1.5 per cent for both years, rather than 1.7 per cent previously forecast for 2016 and 1.9 per cent for 2017.

The ministry however maintained its 2015 growth forecast at 1 per cent.

It also reiterated that France is on course to bring down its public deficit to the EU limit of three per cent of output by 2017.

AFP