French Finance Minister Lescourt said on Tuesday that as economic growth prospects deteriorate, France may not be able to achieve the goal of reducing the fiscal deficit this year, or may need to take further spending savings measures. In the public finance mid-year report submitted to lawmakers, Lescure said he had lowered the government's economic growth forecast from 0.9% to 0.7% due to the weak start of the year and the impact of the war in Iran. The economic slowdown is dragging down French tax revenues, while the government is having to provide targeted support to industries affected by rising energy costs. “Obviously, our goal of controlling the public deficit to 5% is difficult to achieve right now. We will do everything we can to get as close to this goal as possible,” Lescure told reporters after meeting with lawmakers.

French Finance Minister Lescourt said on Tuesday that as economic growth prospects deteriorate, France may not be able to achieve the goal of reducing the fiscal deficit this year, or may need to take further spending savings measures. In the public finance mid-year report submitted to lawmakers, Lescure said he had lowered the government's economic growth forecast from 0.9% to 0.7% due to the weak start of the year and the impact of the war in Iran. The economic slowdown is dragging down French tax revenues, while the government is having to provide targeted support to industries affected by rising energy costs. “Obviously, our goal of controlling the public deficit to 5% is difficult to achieve right now. We will do everything we can to get as close to this goal as possible,” Lescure told reporters after meeting with lawmakers.