France can expect 2% growth amid moderate recovery: OECD

11th April 2011, Comments 0 comments

Moderate economic recovery is underway in France, with some 2.0 percent growth expected this year, though the recession will leave its mark on public finances and employment, the OECD said Monday.

"Our projections indicate real growth in the order of two percent, this year, probably a little more," Organization for Economic Co-operation and Development secretary-general Angel Gurria told a press conference in Paris.

The OECD thus raised its 2011 growth forecast from the previous 1.6 percent.

This, Gurria said, would however provide only a small dip in France's unemployment figures.

"The recovery is underway... but it remains moderate" compared to the shock of the recession from which the country, and much of the rest of the world, has emerged, it added.

The OECD also forecast that the "moderate" growth rate in France would continue for several years.

"A moderate recovery is underway, though the major recession is going to leave lasting traces on public finances and employment," the report said.

© 2011 AFP

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