News Line

Fillon expected to grow to more than 1%

October 14, 2009

Prime Minister Francois Fillon has again revised upwards the estimates on the growth of the French economy for 2010 by advancing the figure of 1%. He estimated that growth would "probably" to "more than 1% in 2010 in France against the 0.75% used officially by the government.

"The worst is over, insofar as it has since the second quarter found (…) net growth," he said on RTL radio. "The forecast I make for the year 2010, economists say they are too conservative: it will probably more than 1% growth. The worst of the financial crisis is behind us, "he added.

These statements Francois Fillon occur when many leaders around the world are based on recent signs of improvement in the economic world to revise upwards their growth forecasts.Regarding the United States, James Bullard, president of the Federal Reserve Bank of St. Louis, expects a fairly strong rebound in growth next year, between 2.5% and 3%, with further expansion marked the first half.

Fran?ois Fillon then broached the subject of unemployment by saying that "until we have found a sufficient growth, there will still be an increase in unemployment, although it will be much weaker than last month." "At least during part of 2010, there will be an increase in unemployment because we know that we need a growth that is between 1.5 and 2% for unemployment is reduced. "

France is today the unemployment rate of 9.7% while the average rate in the EU is 8.8%. This rate could even reach 11% in 2011 according to the OECD.

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