(MENAFN) France President, Francois Hollande, stated that the growth of this year's gross domestic product (GDP) is forecasted to be just over zero percent, reported AP.
The French President added that the GDP growth for 2013 will be no more than 0.8 percent, attributing the decline the recent forecasts to decelerating economic growth that exceeded expectations.
Hollande said that by the end of 2013, the country's growing jobless rate, which is at 10 percent, will be reversed down.
Jobless rate amongst those under 25 is at 22.8 percent, as French employers are particularly unwilling to recruit young people since restrictive labor laws make it very hard for firms to fire new employees.
It is worth noting that Hollande plans to go ahead with his plan to lift income tax on the country's wealthiest to 75 percent, in order to spur economic growth.
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