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France expects weak economic growth in 2013, recovery in 2014  Join our daily free Newsletter

MENAFN - 17/12/2012

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(MENAFN) France's Finance Minister, Pierre Moscovici, stated that the country is expected to see a weak economic growth in 2013, and will start rebounding in 2014, reported Xinhua News.

Moscovici said that 2013 will be a hard year for the country; nevertheless, reforms carried out by the government will manage to put economic growth back on track.

The French government plans to stimulate the economy through a USD49-billion package of measures expected to boost gross domestic product (GDP) by 0.8 percent in 2013 from a projected 0.3 percent in 2012.

Moreover, France plans to reduce its budget gap from 4.5 percent set for the current year to 3 percent next year.

However, the minister noted that in order to achieve these targets, France has to enhance competitiveness and investment, boost continued consumption, while financial uncertainty in Europe must be removed.

 






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