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François Villeroy de Galhau: “France’s deficits weigh on our credibility in Europe”

2024-03-12T20:12:14.080Z

Highlights: François Villeroy de Galhau: “France’s deficits weigh on our credibility in Europe”. The Banque de France revises its growth forecast downwards, to 0.8% in 2024. Its governor warns in an interview with Le Figaro about the deterioration of public finances. The recovery will be fueled by disinflation which will support purchasing power and therefore consumption. Frankly… This article is reserved for subscribers. You have 90% left to discover.


EXCLUSIVE - The Banque de France revises its growth forecast downwards, to 0.8% in 2024. Its governor warns in an interview with Le Figaro about the deterioration of public finances.


LE FIGARO.

-

You are further revising downwards your growth forecast for 2024. For what reasons

?

FRANÇOIS VILLEROY

DE

GALHAU.

-

This is a limited revision: we are lowering our forecast by 0.1 point to 0.8%.

This is the mechanical consequence of the lesser growth recorded at the end of 2023. At the start of 2024, activity is certainly slowed down but is holding up: for the first quarter, our survey of entrepreneurs leads us to forecast growth of 0.2%. .

It is now confirmed: France will escape recession.

Conversely, we have revised growth forecasts more significantly upwards for 2025 (1.5%) and for 2026 (1.7%).

The recovery will be fueled by disinflation which will support purchasing power and therefore consumption.

The government, for its part, is counting on 1

% growth.

Does he still err on the side of optimism

?

Its revision was essential.

Our forecasts now differ by only 0.2 points.

Frankly…

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You have 90% left to discover.

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Source: lefigaro

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