France lowers 2012 growth forecast from 1.0pc to 0.5pc: PM

PARIS: Prime Minister Francois Fillon said on Monday that the French government has lowered its forecast for economic growth this year to 0.5 percent from 1.0 percent.

The revision was made to "take into account the deterioration of the economic situation," he told reporters, a day after President Nicolas Sarkozy unveiled plans for new taxes he hopes will fix France's ailing economy.