France lowers growth projection for 2018 

Added On September 13, 2018


French Finance Minister has put the country's annual economic growth rate at 1.7 percent for this year, lower than the initial target of 1.9 percent.
In an interview with local media on Monday, French Finance Minister Bruno Le Maire confirmed "a little lower" economic growth this year, due to rising oil prices and the negative impact of rail system strikes earlier this year.
He pointed out that the average growth rate has been some 0.8 percent for the past 10 years, so 1.7 percent is not so bad. 
On the deficit, Le Maire pledged to respect the European Union limit of 3 percent of GDP, saying that France is expecting a budget gap of 2.6 percent, 0.3 percentage point higher than the previous estimate.
Earlier on Monday, the French Central Bank announced a 0.4-percent growth for the third quarter of this year, confirming previous market estimates.