Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

French ministry sees economy shrinking 1.5 pc

PARIS, March 2 – The French economy ministry expects the economy to shrink by 1.5 percent this year but to grow in 2010, a source close to Economy Minister Christine Lagarde told AFP on Monday.

The figure given by the source was in line with figures in press reports.

The government had been forecasting earlier that growth would shrink by "at least one percent" this year.

The new estimate will be integrated into an adjusting finance bill to be put before a meeting of the government on Wednesday.

The ministry expects the economy to grow by "more than one percent" in 2010, the source said.

Sources close to the minister also said that more than 300,000 jobs were likely to be lost in the French economy this year, in line with the trend in the last quarter of last year when 89,000 jobs were lost.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...