Minister of Labour in France: The country is on the brink of bankruptcy
- Minister of Labour in France: The country is on the brink of bankruptcy
France is on the verge of bankruptcy, said Labour Minister Michel Sapa. According to him, the situation can only save the economic reforms and accurate execution of a plan to reduce the budget deficit, reports BBC BBC. It is noted that the previous government has also indicated that the country is on the verge of bankruptcy.
It is worth noting that the unemployment rate in France III quarter 2012. increased to 10.3% as compared with the II quarter. Index reached its highest level since III quarter of 1999. The number of unemployed in October 2012. reached a maximum of 14.5 years and reached 3 million 103 thousand
As previously warned the Ministry of Labour, due to the deteriorating state of the economy the number of unemployed could rise. The government of President
Meanwhile, consumer prices in France, harmonized with the European Union rose 0.4% in December 2012. compared to the previous month. Analysts had expected the index to increase by 0.3%.
Meanwhile, gross domestic product (GDP) of France, according to final data, increased by 0.1% in the III quarter 2012. Analysts had forecast a rate increase of 0.2% qoq. Preliminary figures for economic growth in the country showed that the index rose by 0.2%. Thus, the dynamics of GDP has been revised downwards by 0.1 percentage points.