France Cuts its Growth Predictions for 2019 Budget

  • Paris, France
  • 27 August 2018

French Prime Minister Edouard Philippe said that "the French government will put its budget for 2019 on the basis of an estimate of growth slightly below the previous one," stressing that "the plans to control spending has not derailed," and noting that "the growth estimate that we build our budget on is 1.7 percent."
President Emmanuel Macaron's government expects a growth of 1.9 % next year, down slightly from 2 % this year. But both expectations seemed increasingly optimistic after a series of weak economic data prompted institutions such as the European Commission and the International Monetary Fund to expect slower growth than the government expected.
He also considered that "the expectations of lower growth will affect public finances, but that does not stop us from sticking to our commitments to reduce taxes while controlling public spending and debt."
Source: (Khaleej Times, Edited)

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