The French government will soon set a "new target" for growth

"We are in a delicate economic situation," said Eric Lombard during questions to the government at the National Assembly.

"The latest forecasts from the Banque de France are 0,7% and we will have the opportunity (...) in the coming weeks to set a new target for this year," he added.

Despite an unemployment rate "at a historically low level," the minister spoke of "clouds" darkening the economic horizon. He cited a high household savings rate, around 18% of their gross disposable income, the rise in long-term interest rates, as well as the US government's decisions on customs duties expected on April 2, which "risk weighing on growth in the coming weeks," he said.

While the Banque de France has revised its gross domestic product (GDP) growth forecast for 0,7 to 2025%, instead of the government's current growth forecast of 0,9%, Eric Lombard had already pointed out, at the end of March on France Inter, "significant uncertainty" surrounding the impact of increases in American customs duties.

"We will present to the French, probably around April 15, the conclusions we draw from this," he said at the time.

A conference on public finances is planned for April 15 with Prime Minister François Bayrou.