The French economic growth will be weaker than estimated earlier in 2012 and 2013, Finance Minister Pierre Moscovici indicated in an interview.
Moscovici said the economic growth may reach around 0.4 percent in 2012, slightly weaker than 0.5 percent predicted earlier. The statistical office forecasts 0.4 percent growth for the economy this year.
In 2013, an expansion within 1 to 1.3 percent appears "more credible," he told Figaro newspaper. The growth rate for 2013 was earlier set at 1.7 percent.
Meanwhile, the Journal du Dimanche newspaper reported Sunday that France's national audit office, which is expected to publish an in-depth report on the country's public finances this week, will show a shortfall of 7.5-8 billion euros in this year's national budget.
The review was also said to have found at least 1.5 billion euros of inadequately funded spending inherited from the Sarkozy government.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.