Hollande earns stronger '14 growth than forecast
ReutersPARIS--President Francois Hollande said on Friday he believes French economic growth in 2014 will be stronger than expected in official forecasts, and he fended off criticism of his economic reforms.
August 31, 2013, 12:03 am TWN
Hollande told daily Le Monde that a series of reforms conducted since he took office 15 months ago were producing positive effects on the economy and would keep building momentum.
“I wager that we will be able to raise the 2014 growth forecast slightly,” he was quoted as saying in an interview by the newspaper.
He did not give a new target. France's official growth forecast for 2014 is 1.2 percent.
The Bank of France earlier this month doused hopes of a quick economic rebound when it published a forecast for growth of just 0.1 percent in the third quarter, citing weak domestic demand as a slowing factor.
The second quarter was a relatively robust 0.5 percent, however.
Hollande is fighting to kickstart growth through tax credits for companies while battling to bring down record joblessness, but his efforts are being complicated by EU-imposed belt-tightening aimed at shrinking the public deficit.