FRENCH REALISM: The French government has finally bowed to reality, lowering its official economic growth projections and acknowledging that its deficit won’t fall as quickly as promised.
BIG DROP: In a report Wednesday, the government said growth will be just 0.1 percent this year and 1.2 percent next — a big drop from 0.8 percent and 2 percent previously. Since the government has said it won’t cut any more spending, lower growth means higher deficits.
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LA VIE EN ROSE: France’s outlook is still rosier than other independent forecasts. On Tuesday, the International Monetary Fund slashed its forecasts, predicting France’s economy will contract 0.1 percent this year and grow 0.9 percent next.
