France lowers growth forecast, announces cuts in state benefits


Interviewed about his budgetary plans for 2019, French Prime Minister Edouard Philippe said 4,500 public sector jobs would be shed next year when pensions and family and housing benefits will no longer be pegged to inflation, while also forecasting economic growth of 1.7 percent, down on previous predictions.

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France’s 2019 budget will be based on an economic growth forecast of 1.7 percent and a public deficit target that may be hard to reach, French Prime Minister Edouard Philippe said in an interview with Journal du Dimanche as he outlined job cuts and lower public spending, reports Bloomberg.