France cuts growth tar­get to 1.4 per­cent

China Daily (USA) - - BUSINESS -

France low­ered its eco­nomic growth tar­get for 2016 to 1.4 per­cent from a pre­vi­ous es­ti­mate of 1.5 per­cent, a gov­ern­ment state­ment said. France, one of Europe’s lead­ing pow­er­houses, will miss this year’s growth goal be­cause of a dim eco­nomic per­for­mance dur­ing the sec­ond and third quar­ters, which were hit by rolling strikes against la­bor re­form, ter­ror­ist at­tacks and poor har­vests, the fi­nance min­istry said. De­spite a lower growth pro­jec­tion, the French gov­ern­ment stuck to its deficit tar­get set at 3.3 per­cent of gross do­mes­tic prod­uct in 2016.

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