March 19, 2019 / 4:32 PM / 2 months ago

French finance minister cuts 2019 growth forecast to 1.4 percent

FILE PHOTO: French Finance Minister Bruno Le Maire attends the questions to the government session at the National Assembly in Paris, France, November 27, 2018. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The French economy should grow about 1.4 percent this year, Finance Minister Bruno Le Maire said on Tuesday, revising down the forecast of 1.7 percent growth in this year’s budget.

Le Maire told the Senate’s law and economic affairs commissions that the yellow vest anti-government unrest had in the short-term trimmed 0.2 percentage points off growth in 2018 and 2019.

“Growth should be about 1.4 percent in 2019, a number that I will confirm when the stability program is presented,” Le Maire told senators in a hearing on the impact of the protests.

The government usually updates its growth estimate in April when it sends its annual stability program to the European Commission.

Reporting by Leigh Thomas and Yann Le Guernigou; Editing by Bate Felix

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