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After the slack recorded in the first two quarters of the year, Bercy will soon review downward its forecast for 2018, confirmed Bruno Le Maire on Tuesday. The Minister of the Economy also calls on the French to be patient.
It was inevitable, Bruno Le Maire confirms it. The Minister of the Economy said this morning that he would be obliged to review his growth forecasts for 2018 given the slow growth of GDP in the first two quarters of the year. The latter rose by only 0.2% in the first quarter and stagnated in the second, according to INSEE. In this case, it is difficult to reach the 2% of growth retained by the government in the program of stability of public finances handed over in April to the European Commission. "We will review the growth prospects for 2018. We have always been sincerity, I want more than anything," explained Bruno Le Mayor on BFMTV.
The Minister of the Economy refused to give a new number this morning. The scope of the review should be known in September, when the government will submit its draft budget 2019. Meanwhile, Bruno Le Maire admits that the 0.2% growth registered between April and June is "disappointing ". The causes are known: "There have been strikes, the increase in the price of oil, the international climate with this trade war which is detrimental to economic activity," he said. "That brings me to fight to keep accelerating on the reforms. We must stay the course. That's how we will have results. Nothing should distract us from our efforts to accelerate growth, "said the minister.
The French must show" patience "
Among the reforms announced are those included in its law Pact" which should allow SMEs to grow and better reward work, "says Bruno Le Maire. This should normally be examined at the beginning of the school year but may be postponed due to the Benalla case. "Oppositions force us to change the calendar. There will be gaps in the parliamentary calendar. But I do not wish it. We must examine this bill as soon as possible because it is good for the French, for businesses, "said the minister.
Bruno Le Maire ensures that the country is" in the right direction "but urges French to be patient. "On the purchasing power (…) we do not redistribute public money 'do you want it here' (…) It's progressive, I understand the impatience of the French, but it is planned, it will come. At the end of the year 208, every working Frenchman will see his situation improve, "he promises. "It's not done with a magic wand. Our policy is different, more demanding, takes more time, but it is more responsible, "he says.
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