PARIS (AP) — France’s finance minister has revised the country’s growth forecast this year to 1.4 percent, down from the previous 1.7 percent, partly attributing the new estimate to the yellow vest protests.
Speaking Tuesday at the Senate, Bruno Le Maire said the overall cost of damage linked to the four-month anti-government movement is estimated at 200 million euros ($227 million).
Le Maire said France’s revised growth is still higher than government forecasts in neighboring Germany (0.8 percent) and Italy (1 percent). He stressed that the French unemployment rate is decreasing, falling to 8.8 percent at the end of last year, its lowest in 10 years.
The yellow vest movement started in November to protest against French President Emmanuel Macron’s economic policies, seen as favoring the rich.