IMF 'to lower French growth forecast'

3rd September 2004, Comments 0 comments

PARIS, Sept 3 (AFP) - The International Monetary Fund (IMF) will lower its 2005 French economic growth forecast from 2.5 percent to 2.3 percent, the financial daily Les Echos said Friday, without quoting its sources.

PARIS, Sept 3 (AFP) - The International Monetary Fund (IMF) will lower its 2005 French economic growth forecast from 2.5 percent to 2.3 percent, the financial daily Les Echos said Friday, without quoting its sources.  

The French finance ministry is using 2.5 percent growth as the basis for its 2005 budget, and in July, IMF experts had forecast French economic growth at 2.5 percent for this year and next.  

The fund is more optimistic regarding global economic growth, with managing director Rodrigo Rato saying Thursday in Santiago it would make a modest upward revision to its growth outlook, despite increased downside risks.  

Rato, who was attending the Asia-Pacific Economic Cooperation forum meeting of finance ministers, said the IMF global outlook for 2004 set to be released in October would be boosted from the April forecast of 4.6 percent.  

Rato noted however that "some downside risks have increased", including the recent spike in crude oil prices.

 

© AFP

 

Subject: French news

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