France Trims 2024 Growth Forecast and Blames Rate Hikes, Germany
- Finance minister says economy to grow 1.4%; previous est. 1.6%
- French government maintains deficit forecasts through 2027
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France trimmed its growth forecast for next year due to higher borrowing costs and its larger neighbor’s woes in a further challenge to its efforts to repair public finances after massive crisis spending.
The government now expects the euro area’s second-biggest economy to expand by 1.4% in 2024, down from a previous estimate of 1.6%.