French economy likely to grow next year – Villeroy

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PARIS, Dec 9 (Reuters) – France’s economy will “probably” slightly expand next year, central bank head Francois Villeroy de Galhau said on Friday.

“I can’t rule out a recession, but this is not our base line scenario”, Villeroy told franceinfo radio, adding he for now expected “probably slightly positive growth” next year.

The French central bank is due to publish a detailed growth outlook next week.

It had earlier this year given a range of -0.5% to +0.8% for 2023 growth, saying current economic uncertainties would not allow it to give a more precise forecast.

The central bank said in its latest monthly outlook the French economy is on course to finish the year with slightly positive growth in the fourth quarter.

“This probably translates into a 2.6% growth rate for all of this year”, Villeroy added, confirming the central bank’s expectation.

He also said the rate for France’s popular ‘Livret A’ bank savings product, currently at 2%, will go up again in February.

(Reporting by Tassilo Hummel; Editing by Benoit Van Overstraeten)

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