S&P downgrades rating of France to negative 

12:13 - 5.12.2022

December 5, Fineko/abc.az. S&P Global Ratings has downgraded the forecast of France's sovereign rating from Stable to Negative, ABC.AZ reports with reference to the agency.

"The slowdown in the growth of the French economy, government measures to protect households and businesses from energy inflation will put pressure on public finances," S&P analysts say.

S&P downgraded country's GDP growth forecast for 2023 to 0.2% from expected 1.7% in July, and also raised the budget deficit forecast from 4% to 5.4% of GDP. The agency says that those forecasts could further worsen France's financial situation, including prolonged economic downturn.

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