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France downgrades growth, ups deficit forecasts
September 11, 2013 / 10:24 AM / 4 years ago

France downgrades growth, ups deficit forecasts

PARIS, Sept 11 (Reuters) - France as widely expected downgraded its 2014 growth forecast from 1.2 percent to 0.9 percent on Wednesday and signalled that its public deficit would fall more slowly than first expected as a result.

Presenting headline figures of the 2014 budget, Finance Minister Pierre Moscovici said the government now targets a deficit of 4.1 percent of output this year, up from an earlier forecast of 3.7 percent, and 3.6 percent next year, up from an initially projected 2.9 percent.

Prime Minister Jean-Marc Ayrault said earlier that 15 billion out of the total 18-billion-euro budgetary effort for next year would come from spending curbs, with the remainder from higher taxes. (Reporting by Ingrid Melander; editing by Mark John)

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