Central Bank: French economy will avoid recessionFebruary 8, 2013 - 16:20 AMT PanARMENIAN.Net - The French economy will avoid recession this year, according to the country's central bank, BBC News reported. It predicts growth of 0.1% in the first three months of 2013, a more upbeat outlook than that of many economists, who are discouraged by recent data. A recession is usually defined as two consecutive quarters of contraction. In its monthly report, the Bank of France said: "Forecasts point to a modest rise in [industrial] activity in February." The bank added that the business confidence indicator for industry had risen to its highest level in nearly a year. But many experts have made gloomier predictions - partly because of January's manufacturing data, which showed the sharpest fall in output since March 2009. Initial economic growth figures for France are due out on 14 February. The government's official forecast is for 0.8% this year. French President Francois Hollande is trying to make France more competitive. He recently called for more currency stability, arguing that the French economy "could be destroyed by the rising value of the euro". Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |