French Economy Minister Christine Lagarde has revised down the official prediction for 2012 economic growth to 2.25 percent, from the previous estimate of 2.5 percent, according to an interview published on Wednesday night by local daily Les Echos.
"For 2012, we plan to accelerate growth, but we decided to be cautious in assuming a GDP (gross domestic product) growth of 2.25 percent instead of 2.5 percent envisaged hitherto," the French economic daily quoted the minister as saying in a digital story posted on its website.
The minister attributed the lower forecast to tepider than expected global demand of French production. "The international environment is marked by rising commodity prices, especially in energy, as well as by the fiscal consolidation efforts of states," she explained.
For 2011, the minister repeated the government's earlier estimate of a 2-percent economic growth, saying that the figure was "now accepted as credible" as it was recognized by the Organization for Economic Cooperation and Development (OECD).
"The OECD even estimated that we might be at a place beyond that level (2.0 percent)," the minister told Les Echos.