France’s GDP to grow by 1.1 pct in 2024: central bank

PARIS, Sept. 17 (Xinhua) — France’s central bank, Banque de France (BdF), said on Tuesday that France’s gross domestic product (GDP) is expected to grow by 1.1 percent in 2024.
According to the BdF’s latest macroeconomic projections, the expected growth will primarily be driven by a strong performance in foreign trade. Additionally, the Olympic Games held in Paris this summer are anticipated to positively impact the economy, providing an extra boost to GDP in 2024.
However, the central bank also noted that certain factors could dampen growth, particularly the “destocking phenomenon” as companies adjust inventory levels following the resolution of supply-chain disruptions.
The BdF foresees French GDP growth at 1.2 percent in 2025, but it revised down its projection for 2026 to 1.5 percent.
Regarding France’s inflation, the BdF’s forecast for 2024 remains unchanged at 2.5 percent. ■