France’s growth expectation at 0.1 pct: Minister

PARIS - Agence France-Presse

French Finance Minister Pierre Moscovici said today that France’s economy was expected to grow just 0.1 percent this year, revising downward an official target as the country struggles to get back on its feet.

The French government had initially forecast 0.8 percent growth in 2013 for the eurozone’s second largest economy, which continues to battle rising unemployment, stagnant growth and a stubborn budget deficit. Speaking on Europe 1 radio, Moscovici also predicted growth for 2014 at around 1.2 percent.

His 2013 prediction confirms those already made by the European Commission and Organisation for Economic Cooperation and Development, which both forecast that the French economy would manage to grow by 0.1 percent.