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French official trims economic growth expectations


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French official trims economic growth expectations

France's economic growth is expected to be "a little lower" owing to the negative effect of rail system strikes earlier this year and higher oil prices, said French Finance Minister Bruno Le Maire, according to Xinhuanet.

In an interview with radio station France Inter, Le Maire said he expected the annual economic growth rate for 2018 to stand at 1.7%, lower than the original target of 1.9%.

He added that the nation's budget deficit would likely come in at 2.6%, higher than an earlier estimate.

Le Maire stressed that the country could do better, and that it would need to study all the measures that could boost the economy.

"In [these] difficult moments, the only thing that matters is to keep calm and maintain the course. ... I'm convinced that in a few months, it will work," he said.