French fiscal watchdog questions growth forecasts

PARIS, April 16 | Tue Apr 16, 2013 6:33am EDT

PARIS, April 16 (Reuters) - The French economy could contract this year and grow by less than planned in the following four years, the country's new fiscal watchdog said on Tuesday, a day before the government publishes a new multi-year deficit-cutting plan.

The government is basing its fiscal programme on growth forecasts of 0.1 percent of GDP for this year, 1.2 percent next year and 2 percent on average in 2015-2017, but the oversight body saw risks linked both to the economic outlook in Europe and weak domestic demand.

"The High Council therefore considers that a slight contraction of GDP in 2013 and growth well below 1.2 percent in 2014 cannot be ruled out," it said in a report.

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