France cuts growth forecast at emergency summit

first_img France cuts growth forecast at emergency summit whatsapp Friday 20 August 2010 9:27 am Share FRANCE has cut its forecast for economic growth next year after an emergency meeting between the president and senior finance ministers.It now thinks the economy will grow by two per cent next year.The previous forecast was 2.5 per cent.This year it will 1.4 per cent, the government said.President Nicolas Sarkozy ordered ministers to interrupt their summer holidays to discuss how France is going to cut its deficit.They met at his official retreat, Fort de Bregancon, amid fears that in the long term the country facedthe possibility of having its AAA credit rating downgraded by ratungs agency Moody’s.The president said that the reduction of the government deficit in 2011 was a priority.Public expenditure would be reduced, the president said. He also repeated his pledge not to increase VAT, income tax or tax on companies.But he also said 10 billion euros of tax breaks would be abolished in the autumn. Show Comments ▼ John Dunne whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img

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