PARIS: France’s growth accelerated to one percent in the first quarter of the year but its public deficit nevertheless widened slightly, the national statistics institute said on Friday. According to the INSEE agency, between January and March the economy grew at the strongest rate since the second quarter of 2006, before the credit crunch triggered a global economic crisis, hitting one percent. And the state body forecast that GDP growth for the year would be no less than 1.6 percent.
President Nicolas Sarkozy’s government budget is based on an assumption of two-percent growth over the period. INSEE also warned that the deficit between government revenue and its spending on its budget, local government and social security, was slightly higher last year than had been previously estimated. At the same time, INSEE revised annual economic growth in 2010 down from 1.5 percent to 1.4 percent owing to slower growth during the fourth quarter of last year, which was revised down from 0.4 percent to 0.3 percent. afp
Source: www.dailytimes.com.pk
President Nicolas Sarkozy’s government budget is based on an assumption of two-percent growth over the period. INSEE also warned that the deficit between government revenue and its spending on its budget, local government and social security, was slightly higher last year than had been previously estimated. At the same time, INSEE revised annual economic growth in 2010 down from 1.5 percent to 1.4 percent owing to slower growth during the fourth quarter of last year, which was revised down from 0.4 percent to 0.3 percent. afp
Source: www.dailytimes.com.pk
No comments:
Post a Comment