France sticks to 1% growth forecast for 2015

France will stick to its official forecast of one percent growth for 2015 when it revises budget plans later this month despite policymakers' repeated comments that they hope it can be surpassed, Finance Minister Michel Sapin said. 

PHOTO: AFP

2 Apr5:11 PM

[PARIS] France will stick to its official forecast of one percent growth for 2015 when it revises budget plans later this month despite policymakers' repeated comments that they hope it can be surpassed, Finance Minister Michel Sapin said.

Mr Sapin told reporters the government wanted to be cautious and now considered the one per cent target as a floor rather than a target.

The eurozone's second-largest economy grew by only 0.4 per cent in 2014. Better consumer and business morale as well as other indicators including consumer spending show it is now starting to do better.

The government is due next week to present proposals to boost public and private investment.

REUTERS