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French central bank expects stronger growth in 2018

The French economy is projected to expand further in 2018 after recording its strongest growth in six years in 2017, Reuters reported citing data from the country's central bank.

In its latest economic outlook report, Banque de France said that the economy will grow by 1.9% in 2018, slightly higher than the 1.7% forecast in December. Growth is expected to ease to 1.7% in 2019, down from the previous forecast of 1.8%. The central bank maintained its growth forecast at 1.6% for 2020.

At the revised rates of economic expansion, the economy would create 185,000 to 200,000 net jobs per year through the end of the decade. The country's unemployment rate would fall to 7.9% by the end of 2020, closer to the 7% President Emmanuel Macron has set as a target before his term expires in 2022, Reuters said.

The central bank also projected that higher energy prices would boost inflation to an average of 1.6% in 2018. It would then fall to 1.4% in 2019 before picking up to 1.8% in 2020.