Forecast: "There's nothing left to cut": French government expects less growth and higher deficit
Finance Minister Lescure is cutting the growth forecast. The adoption of a budget is likely to become a Herculean task, as the positions in parliament have already become entrenched.
The French government has revised its economic and budgetary targets for the current year. Finance Minister Roland Lescure lowered the GDP growth forecast from 0.7% to 0.5%. The goal of reducing the budget deficit to 5.0% of economic output is no longer feasible, he said, citing the economic impact of the war in the Middle East and extreme weather events that affected agriculture. Lescure stated that economic uncertainty has never been greater and that there are no more resources to cut.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
