Paris, November 12 (QNA) - Governor of the Banque de France Francois Villeroy de Galhau announced Wednesday that the country's economic growth will reach no less than 0.7 percent in the current year and 0.9 percent in 2026, indicating that the bank's forecasts may soon be revised upward.
In a press statement, Villeroy de Galhau said they will achieve at least 0.7 percent growth in 2025, and at least 0.9 percent in 2026.
He added that the bank will release its precise forecast figures on December 19.
According to the bank's monthly report issued Tuesday, France's GDP is expected to continue its growth in the fourth quarter of this year, following a stronger-than-expected performance of +0.5 percent in the previous quarter.
Commenting on this, the Governor stated that this confirms what they observed in the third quarter, the French economy is showing a good degree of resilience.
Regarding the major debate on public deficit in France, he called for tighter control of public spending, warning that the current direction of parliamentary discussions is not on the right track.
Villeroy de Galhau urged prudence and balance in managing public finances.
He stressed that the deficit must be reduced to 3 percent of GDP by 2029. Since they are starting from 5.4 percent, the calculation is simple: they have four years, and they must achieve a quarter of the progress in the first year, meaning the deficit should not exceed 4.8 percent next year.
He concluded his remarks by saying that otherwise, they risk a gradual collapse. (QNA)