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France says growth on track despite strikes
Source: Agencies |
October 26, 2010, Tuesday
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LONG-RUNNING strikes over a planned pension reform will not affect the French government's 2010 growth forecast, Economy Minister Christine Lagarde said today, as blockades ended at several refineries.
Fuel was leaving again from four of France's dozen oil refineries on Tuesday after barricades were lifted, although petrol shortages continued to spell misery for small businesses and motorists queuing at the pump.
"I don't deny we've had several days where there has definitely been an economic impact, but I don't think it's enough to change our growth forecast for the full year," Christine Lagarde told France's Radio Classique.
The French government is estimating gross domestic product will expand by 1.5 percent in 2010, after contracting 2.5 percent in 2009 during the global economic crisis.
Figures on Tuesday showed French consumer confidence unexpectedly perked up in October, hitting an eight-month high as unemployment concerns eased. [ID:nLDE69P0ES]
On Monday, Lagarde said walkouts in protest at President Nicolas Sarkozy's plan to raise the retirement age by two years were costing France 200-400 million euros a day in lost production and hurting its image as the country tries to emerge from an economic downturn.
Unions have called for two further days of nationwide protests on Oct. 28 and Nov. 6 and students are due to march against the unpopular pension reform later on Tuesday.
But with the legislation set to be ratified by parliament this week, the conservative government hopes the protest movement will fizzle out in the coming days and weeks.
"In a democracy, you have to respect the legal institutions in place," Labour Minister Eric Woerth told France Info radio. "There's no point striking now against pension reforms."
Public transport strikes have waned in recent days and services were close to normal on Tuesday.
In the southern port city of Marseille, garbage collectors ended a two-week strike and went to clear up large piles of decaying trash that has created fire and health hazards for residents.
Fuel was leaving again from four of France's dozen oil refineries on Tuesday after barricades were lifted, although petrol shortages continued to spell misery for small businesses and motorists queuing at the pump.
"I don't deny we've had several days where there has definitely been an economic impact, but I don't think it's enough to change our growth forecast for the full year," Christine Lagarde told France's Radio Classique.
The French government is estimating gross domestic product will expand by 1.5 percent in 2010, after contracting 2.5 percent in 2009 during the global economic crisis.
Figures on Tuesday showed French consumer confidence unexpectedly perked up in October, hitting an eight-month high as unemployment concerns eased. [ID:nLDE69P0ES]
On Monday, Lagarde said walkouts in protest at President Nicolas Sarkozy's plan to raise the retirement age by two years were costing France 200-400 million euros a day in lost production and hurting its image as the country tries to emerge from an economic downturn.
Unions have called for two further days of nationwide protests on Oct. 28 and Nov. 6 and students are due to march against the unpopular pension reform later on Tuesday.
But with the legislation set to be ratified by parliament this week, the conservative government hopes the protest movement will fizzle out in the coming days and weeks.
"In a democracy, you have to respect the legal institutions in place," Labour Minister Eric Woerth told France Info radio. "There's no point striking now against pension reforms."
Public transport strikes have waned in recent days and services were close to normal on Tuesday.
In the southern port city of Marseille, garbage collectors ended a two-week strike and went to clear up large piles of decaying trash that has created fire and health hazards for residents.
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