According to Bercy, this lowering of the forecast does not call into question the goal of reducing the public deficit to 3.3% of GDP this year.
The government has lowered its growth forecast for the French economy in 2016 from 1.5 % to 1.4 %, announced on Friday 18 November, the minister of economy and finance, Michel Sapin, who shall submit in the day of its draft amending budget.
” I think it is 1.4 %. This is the figure that will be remembered for this year as a hypothesis “, said Mr. Sapin on the radio Europe 1, stating that this new forecast would not have a negative effect on the reduction of unemployment. the ” The evidence is that it was never created as many jobs, net new jobs (…) since the crisis “, a-t-he assured.
The entourage of Mr. Tree at Bercy was observed that the reduction of 0.1 percentage point of GDP did not change ” not the dynamic at work for a year and a half, “.
The goal of deficit reduction unchanged
This goal of 1.4% was considered ” feasible “ by the High Council of public finance (HCFP), an independent body responsible for assessing the credibility of the budget estimates of the executive, in a notice to the government made public Friday.
The figure of 1.4 % is however, higher than forecasts of the Insee, the european Commission, the international monetary Fund and the OECD, which are betting on an increase of 1.3 % of GDP in 2016.
According to Bercy, this lowering of the forecast does not call into question the goal of reducing the public deficit to 3.3% of GDP this year. The HCFP has tried the latter ” realistic “, adding that it remained conditioned ” to a strict management of expenditures on end-of-year. The european Commission has estimated that the deficit target of Paris, from 3.3 % this year, is expected to be held.
Read also : public Deficits : for Brussels, Paris can either go under the bar of 3 % of GDP in 2017