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Significance As a result of dwindling tax revenue, he also said that state spending would be cut by EUR10bn (USD10.8bn). The government’s forecast for this year is more optimistic than international institutions, with the OECD forecasting growth of 0.6%. Impacts Social unrest and weak growth could see rating agencies downgrade France later this year. Spending cuts will have an adverse impact on some climate and environmental policies. Germany’s economic downturn will hurt demand for French exports, especially during the first half of the year.
A Mon, study studied this question.