French Prime Minister Francois Fillon said Monday that his government will continue to carry out structural reforms and will not adopt monetary tightening or incentive measures in face of the global economic slowdown.
Fillon, who made the remarks during an inspection stopover in France's southwest city of Bayonne, believes that monetary tightening will only lead to the further contraction of consumption and investment while incentive policies will cause public debts and budget deficits to increase.
The French economy grew 0.4 percent in the first quarter of this year but declined 0.3 percent in the second quarter.
Fillon expected the country's annual growth rate to be a little more than 1 percent this year, far below the previous expectation of 1.7-2 percent.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article