25 June 2001, 12:26 Fabius says FY GDP growth likely to be under 2.7 pct vs 2.9 govt forecast
PARIS (AFX) - French finance minister Laurent Fabius said on France
3 television that French economic growth this year will likely fall
below the current official government forecast of 2.9 pct.
Although the government is currently maintaining its forecast,
Fabius said recently that growth would be nearer 2.7 pct.
He said the French economy is "slowing but resistant," and that GDP
growth should still be well above 2 pct for the year.
"(The economy) is doing better than elsewhere but not as well as
expected," Fabius said, citing the U.S. slowdown as the main cause for
the GDP revision.
The statistics bureau Insee is forecasting full-year GDP of 2.5
pct, while budget discussions last Autumn were based on expected GDP
growth this year of 3.3 pct.
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