France Lowers Its 2024 Economic Growth Forecast to 1%

Finance Minister Bruno Le Maire revealed new outlook Sunday
Announces €10 billion in spending cuts by central government

Bruno Le Maire
Photographer: Benjamin Girette/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Tara Patel and William Horobin

February 18, 2024 at 7:23 PM UTC

Updated on

February 18, 2024 at 8:00 PM UTC

This article is for subscribers only.

Finance Minister Bruno Le Maire lowered France’s 2024 economic growth forecast to 1% and announced plans to cut spending by €10 billion ($10.8 billion).

Le Maire revised the outlook for gross domestic product from 1.4% in a TF1 television interview on Sunday evening. The central government spending cut will be made across all ministries and some programs with immediate effect, in order to make up for the shortfall in output, the minister said.