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French central bank chief says France to see "insufficient" growth in 2016

Xinhua, March 30, 2016 Adjust font size:

France, Europe's second biggest economy, was set to speed up its growth by 1.2 percent this year, lagging behind its European neighbours, Francois Villeroy de Galhau, governor of the French central bank BdF, said on Wednesday.

Speaking to the financial committee in the senate, the BdF chief noted that French economy would be "resistant as it would rise at least by 1.2 percent" in 2016 at the same rate reported a year earlier.

However, "it will be insufficient as it will remain slightly below the average of the euro area," he added.

The eurozone was expected to accelerate its growth by 1.4 percent to 1.5 percent.

Based on favorable global climate, mainly due to oil price and an expansionary monetary policy in the euro area, the French government aims to achieve a growth of 1.5 percent in the country's national wealth this year. Endit