French economy is in danger

According to official statements issued by the “National Institute of Statistics” in France that the French economy will shrink in half a year in 2013, the first frost and the second where economic growth will rise by only 0.1%, while the unemployment rate will rise to 11%.

The report mentions that the decline in French GDP growth during the first six months of this year, representing a slight decrease of 0.1% from the previous forecast.

The data has indicated that the unemployment rate in France in 2013 will reach 11%, and the Institute has expected to lose 74 thousand jobs from last January until next June. The Institute of Statistics has announced a few days ago for an unemployment rate of 10.2% to exceed the 10% barrier for the first time since 1999, and data from the National Institute of Statistics that France has had 2.9 million unemployed in late last year.