France FinMin Says Country Could Shrink 0.1 Percent in August

France’s finance minister has denied that the eurozone’s second-biggest country has revised down its economic prospects for 2013.

Pierre Moscovici was quoted on Saturday as saying that France’s economy might shrink 0.1% this year, after predicting 0.1% growth earlier this year.

But he said on Sunday: “I have not made any revision on the forecast of growth in France.”

He added that a new forecast might appear with the new budget next month.

France has not had a year of negative growth since 2009.

“We know the trends and this year growth will be weak and between -0.1% and 0.1%,” Mr Moscovici told the Nice Matin newspaper on Saturday. “What is important is that the trend has reversed.

via BBC

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