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Today's News
03:17, 21 April 2018 Saturday
Economy
Update: 16:57, 03 July 2012 Tuesday

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French PM cuts growth forecasts for 2012 and 3013
French PM cuts growth forecasts for 2012 and 3013
(File Photo)

Ayrault confirmed plans to hire more teachers and police, create 150,000 state-aided jobs and promote more competitive industry.

World Bulletin / News Desk

Prime Minister Jean-Marc Ayrault cut France's economic growth forecasts on Tuesday, saying GDP was likely to grow 0.3 percent this year, rather than a budgeted 0.7 percent, and 1.2 percent in 2012 instead of a previously slated 1.75 percent.

In a keynote speech to parliament spelling out the new Socialist government's plans for the five years ahead, Ayrault confirmed plans to hire more teachers and police, create 150,000 state-aided jobs and promote more competitive industry.

To help industrial innovation, a public investment bank would be put in place before the end of this year, he said, and the government would also announce a plan shortly to address problems in the auto sector.



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