Keyword: French economy
Plans unveiled by prime minister Édouard Philippe entail spending billions on education, digitization and the environment.
Most affected is tourism sector, with Air France estimating losses of 50 million euros, while Bank of France says fourth quarter growth cut by 0.1 pcnt.
Speaking on prime-time television a bullish Hollande insisted that 'we are almost there' on efforts to tackle unemployment in the country.
The French National Institute of Statistics and Economic Studies, INSEE, last week published its economic forecast for the first half of 2013, predicting France will remain on the edge of recession with zero growth, ever-rising unemployment, a collapse of purchasing power and consumption in tatters. Mediapart's economics and finance specialist Laurent Mauduit argues here that the INSEE study provides a damning appraisal of the French socialist government’s austerity policies and its obedience to the fiscal compact.
France escapes recession but marks zero growth for a third successive quarter, with no growth in sight for eurozone's second-largest economy.
Bank of France says French economy set to slip into a shallow recession in the third quarter, dampening government hopes for 0.3% growth in 2012.