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France will not slide into recession in 2013: Hollande  Join our daily free Newsletter

MENAFN - 23/12/2012

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(MENAFN) French President, Francois Hollande, stated that his country's economy will not fall into recession in 2013 in spite of gloomy prospects, reported Xinhua News.

Hollande said that France's USD2.64 trillion economy, the euro region's second largest, will be able to reach balanced finances and create jobs next year, although it will not be an easy year.

He noted that in case of a recession, French unemployment rate, expected to reach 10.9 percent in 2012, will continue to grow.

The president pledged to cut the country's deficit to 3 percent of gross domestic product (GDP) and speed up growth by 0.8 percent in 2013.

It is worth noting that France's national statistics bureau Insee projects a slow growth of 0.1 percent over next year's first half.

 






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