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AP National Business

France forecasts weak growth next year amid energy crisis

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Published 8:40 AM

By SYLVIE CORBET and JADE LE DELEY
The Associated Press

PARIS (AP) — France is forecasting growth to slow down substantially next year in the EU’s second-biggest economy. That is coming amid fears of recession in neighboring Germany as the economic situation in Europe is slammed by Russia’s war in Ukraine. France’s budget was presented Monday in a Cabinet meeting. It is based on an predicted growth of 1% next year — down from an estimated 2.7% growth this year. Finance Minister Bruno Le Maire said inflation in France is expected to reach 6% in the coming months and 4% later next year. The French government this month issued a 16 billion-euro ($16 billion) plan to cap gas and electricity price rises in France at 15% next year.

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