(MENAFN) The economy in France is expected to grow by 0.1 percent this year and by 0.9 percent next year down from the initial estimate of 1.2 percent, Kuwait News Agency reported.
The deficit for this year is expected to hit 4.1 percent, up by 0.2 percent from the agreed 3.9 percent with the European Commission. The country was hoping to shave the deficit down to 3.7 percent of the gross domestic product (GDP).
The French Finance Minister, Pierre Moscovici, said that his country will not be able to reduce the deficit to the EU target in this year and the next, but will hit the 3 percent target of 2015.
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