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France needs to quicken growth by up to 2 pct to lower jobless : FinMin

Xinhua, January 28, 2015 Adjust font size:

French Finance Minister Michel Sapin on Wednesday said the eurozone's second largest economy must accelerate its growth by 1.5 to 2 percent to bring down a long-running rise in unemployment.

Speaking to RTL radio, Sapin said the Socialists eye to expanding French national wealth between 1.5 percent and 2 percent to honor commitment on job creation.

For 2015, the government set growth target at 1 percent from an expected 0.4 percent in 2014.

"With 0.4 percent, you won't have any impacts on unemployment. With 1 percent, you start to get some results. Unemployment is not a fatality but a reality that we must continue to fight," the French finance minister added.

At the end of December 2014, 8,100 additional people were reported without job, 0.2 percent rise compared with November, making the total number of joblessness at 3.496 million in the mainland France.

On yearly basis, jobless claims grew by 5.7 percent, according to the Labor Ministry data.

Despite the gloomy figures, Sapin expressed optimism to reverse the trend, betting on favorable business climate in Europe and at home.

"Today, the euro has fallen considerably. It's good news for companies that will be able to export and create new jobs. Today, interest rates are very low. It is good news for companies that want to invest and will find less money. Today, the oil price is extremely low. It is good news for businesses and households," he said. Enditem