OECD projects weak growth, high joblessness in France

November 26, 2014 7:03 am 

PARIS, Nov. 26 — Growth in France would rise gradually in 2015 and 2016, but it will remain too weak to digest a large slice of unemployed people among its 66 million population, the Organization for Economic Cooperation and Development (OECD) said on Tuesday.

In its latest economic forecast, the OECD expected French GDP growth to reach 0.4 percent this year before accelerating to 0.8 percent and 1.5 percent in 2015 and 2016 respectively,

"Improvements in global environment, a favorable exchange rate, lower energy prices and significantly slower pace of fiscal consolidation will help growth," OECD said.

Noting weak demand and poor investment, the OECD estimated unemployment in France to stand at 9.9 percent for the whole year of 2014 and at 10.1 percent in 2015. (PNA/Xinhua)

FPV/JSD

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