French finance minister to slash growth forecast for ’24 – reports

French Finance Minister Bruno Le Maire is expected to announce a reduction in the country’s growth forecast to 1.24 per cent for 2024 in an interview with a TV channel on Sunday, Reuters reported citing French media outlets.

The finance ministry declined on Saturday to comment on the reports, but confirmed that Le Maire will speak on the 8 pm TF1 news.

The government’s GDP forecast for 2024 is expected to be reduced to around one per cent, with spending cuts of €20 billion over two years, according to La Tribune.

Le Figaro, on the other hand, stated that the forecast will be lowered to 0.9 per cent and a €10-billion savings plan will be announced, Reuters added.

Recently, the European Commission cut its 2024 GDP growth forecast for France to 0.9 per cent from 1.2 per cent. The Organisation for Economic Cooperation and Development also revised its 2024 French growth forecast to 0.6 per cent from 0.8 per cent.