France will barely grow in 2013, minister warns - New York News

France will barely grow in 2013, minister warns

Posted: Updated:

PARIS (AP) — France's finance minister is warning that the country will barely grow this year.

Finance Minister Pierre Moscovici told an economic conference on Thursday that growth in Europe's second-largest economy likely won't be above 0.1 percent this year.

That's in line with the European Commission's forecast but well below the government's original estimate of 0.8 percent.

Moscovici said the government would "fight" for stronger growth, which should emerge by the end of the year, and that next year should be "significantly positive." The commission has forecast 1.2 percent growth for France in 2014.

Moscovici reiterated that the government would not make further spending cuts to meet its target of getting its deficit down to 3 percent of France's annual gross domestic product because that would weigh on growth.

 

Copyright 2013 The Associated Press.

  • Local NewsLocal NewsMore>>

  • Trench collapse traps workers

    Trench collapse traps workers

    Thursday, July 31 2014 2:56 PM EDT2014-07-31 18:56:22 GMT
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
  • 5 annoying things about the New York City subway

    5 annoying things about the New York City subway

    Thursday, July 31 2014 2:55 PM EDT2014-07-31 18:55:21 GMT
    Subway problems are annoying, but it’s just a part of living in New York City. Public transportation isn’t glamorous. It’s a pain. It’s a convenience that can cause an inconvenience. Here is a list of five annoying things about the subway system.
    Subway problems are annoying, but it’s just a part of living in New York City. Public transportation isn’t glamorous. It’s a pain. It’s a convenience that can cause an inconvenience. Here is a list of five annoying things about the subway system.
  • Woman plunges to death over cliff in Catskills

    Woman plunges to death over cliff in Catskills

    Thursday, July 31 2014 2:42 PM EDT2014-07-31 18:42:28 GMT
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices