France cuts growth projection

PARIS: France will lower its economic growth forecasts for this year as part of a revised budget the government will present later this week to meet its public deficit targets, Finance Minister Pierre Moscovici said on Sunday.

The country’s national audit office was expected to reveal a shortfall of about eight billion euros (US$10.15bil) when it published the results of an official review of public finances that new President Francois Hollande ordered, the Journal du Dimanche (JDD) newspaper earlier said.