France Reduces 2011 Growth Outlook by 0.5%

France has slashed its forecast for 2011 to 2 percent from 2.5 percent and is ramping-up efforts to reduce the country’s growing deficit. President Nicolas Sarkozy has tasked his ministers with finding ways to reduce the record 8 percent deficit to 6 percent, describing the deficit reduction as a “a major objective” for the upcoming year.

Source: BBC News

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