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France lifts 2010 forecast for GDP

THE French government has lifted its forecast for gross domestic product growth in 2010, almost doubling it to 1.4 per cent from 0.75 per cent previously, economy minister Christine Lagarde said yesterday.

The new figures will be included in a budget update to be released tomorrow, which should also point to a slightly better-than-expected deficit figure.

“The international environment and demand for French products has improved and this has led us to revise our growth forecast from 0.75 to 1.4 per cent,” Lagarde said after meeting government ministers.

Bank of France governor Christian Noyer said he thought the new forecast was reasonable.