French economy grows again as stimulus is given priority

13 November 2009

The French economy grew by +0,3% in the third quarter according to figures issued by Insee, the National Statistics Office.

A statement from Insee said the +0,3% rise in gross domestic product (GDP) replicated the rise in the second quarter, but was below the forecasted +0,6% increase.

Third quarter GDP data showed French exports rising faster than imports as the world economy started to pick up, with trade contributing positively to the overall growth figure.

French Economy Minister Christine Lagarde said, "We cannot cut our public deficit and at the same time continue the recovery plan. My proposal is to continue the recovery plan through 2010 and fix a realistic timeframe for meeting the European Union's public deficit limit of 3% of GDP.

"For me, a realistic timeframe is 2014."

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