France: the BdF raises its growth forecast for 2023

( – The Banque de France has revised upwards to 0.6% its
growth forecast for the French economy for 2023, estimating that the probability of a recession was now ‘very small’.

In its latest forecasts, which were communicated last December, the central bank had so far forecast a 0.3% increase in GDP this year.

In its note on the economy, the BdF explains that it expects activity to be “more resilient than expected” compared to its forecasts for December, thanks in particular to the decline in energy prices.

Regarding inflation, the Banque de France is now forecasting a 5.4% increase in consumer prices in 2023, which would mark a marked slowdown compared to the 5.9% for the 2022 financial year.

Last December, the BdF said it was aiming for inflation of 6% this year.

Regarding inflation excluding energy and food, it expects prices to rise by 4.3% this year, against a previous projection of 4%, and after an increase of 3.4% last year.

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