The EU-wide slowdown forces France to cut its 2012 GDP growth forecast to 0.5% from 1%, which is...

|By:, SA News Editor

The EU-wide slowdown forces France to cut its 2012 GDP growth forecast to 0.5% from 1%, which is still above the IMF's 0.2% estimate and the 0.1% predicted by economists. The budgetary impact of 0.5% growth would be €5B ($6.6B), although the government doesn't believe it will need to carry out further austerity.