France Cuts Budget Deficit Forecast

The French government downgraded the budget deficit projections for this year and next, the Finance Ministry said Tuesday.

The government currently forecast a deficit of 2.9 percent of gross domestic product for 2017 and 2.6 percent for 2018.

The estimate for this year was trimmed from 3 percent and that for next year from 2.7 percent.

The ministry also raised its economic growth outlook to 1.7 percent this year from 1.6 percent.

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