Hollande May Cut 2013 French Growth Forecast to 1%, JDD Says

French President Francois Hollande may lower the country’s 2013 economic growth forecast to 1 percent, Le Journal du Dimanche reported, without citing anyone.

Hollande may unveil the cut from the initial 1.2 percent forecast during his television interview later today. He may also announce the first elements of the 2013 budget, which is due to be unveiled at the end of the month, the weekly newspaper said today.

Hollande last week pledged to stick to his 3 percent budget deficit target and may today announce taxes increases of as much as 20 billion euros ($25.6 billion), JDD said.

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