Macro - Country Economic Forecasts - France
The Russian invasion of Ukraine and its inevitable economic consequences have prompted significant revisions to our forecasts. We have cut our 2022 GDP growth forecast for France by 0.4pp to 3.0% and by 0.1pp in 2023 to 2.0%. Inflation is now seen at 3.8% this year. And given the high uncertainties, further revisions are likely, especially if energy prices stay higher for longer, while the sanctions imposed by the west against Russia are yet to be completed.
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