PARIS, June 20 (Reuters) - French Economy Minister Christine Lagarde repeated on Sunday that France had no revisions to make to its gross domestic product (GDP) forecasts and the country's sovereign debt rating was not under threat.
Revisions to growth forecasts, if any, would be made only after mid-August and more likely at the beginning of September after figures for the second quarter were released, she said.
'I maintain my growth forecast because it is too early in the year to envisage revising it,' she told LCI television.
'Let's wait to gather what I hope will be a good result in the second quarter and then we will see at the beginning of September if we need to revise the growth forecast or not.'
France is forecasting economic growth of 2.5 percent from 2011, against 1.4 percent expected this year. Many economists have said those targets are overly optimistic.
'We have put forward a growth hypothesis which is ambitious and perhaps a bit audacious ... That does not mean that I don't believe in it,' she said, adding that she expected a 'good surprise' for French economic growth in 2011.
Lagarde also said France's AAA sovereign debt rating was 'not in question, 'AAA stable,' it's the best there is.'
An article in the Sunday-Monday edition of French daily Le Monde, citing unnamed sources from Lagarde's entourage, said France might lower its growth forecasts after the International Monetary Fund and the European Commission expressed doubts over France's predictions.
France's economy grew 0.1 percent in the first quarter, sparking concerns about a recovery in 2010.
The IMF said on Thursday that it expected French economic growth to be sluggish this year and to pick up only slightly in 2011.
In April the IMF forecast France, the euro zone's second-biggest economy, would grow 1.5 percent this year and 1.8 percent in 2011.
(Reporting by Sophie Taylor, Editing by Maureen Bavdek) Keywords: FRANCE ECONOMY/LAGARDE (sophie.taylor@thomsonreuters.com; +33 1 4949 5219; Reuters Messaging: sophie.taylor.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Revisions to growth forecasts, if any, would be made only after mid-August and more likely at the beginning of September after figures for the second quarter were released, she said.
'I maintain my growth forecast because it is too early in the year to envisage revising it,' she told LCI television.
'Let's wait to gather what I hope will be a good result in the second quarter and then we will see at the beginning of September if we need to revise the growth forecast or not.'
France is forecasting economic growth of 2.5 percent from 2011, against 1.4 percent expected this year. Many economists have said those targets are overly optimistic.
'We have put forward a growth hypothesis which is ambitious and perhaps a bit audacious ... That does not mean that I don't believe in it,' she said, adding that she expected a 'good surprise' for French economic growth in 2011.
Lagarde also said France's AAA sovereign debt rating was 'not in question, 'AAA stable,' it's the best there is.'
An article in the Sunday-Monday edition of French daily Le Monde, citing unnamed sources from Lagarde's entourage, said France might lower its growth forecasts after the International Monetary Fund and the European Commission expressed doubts over France's predictions.
France's economy grew 0.1 percent in the first quarter, sparking concerns about a recovery in 2010.
The IMF said on Thursday that it expected French economic growth to be sluggish this year and to pick up only slightly in 2011.
In April the IMF forecast France, the euro zone's second-biggest economy, would grow 1.5 percent this year and 1.8 percent in 2011.
(Reporting by Sophie Taylor, Editing by Maureen Bavdek) Keywords: FRANCE ECONOMY/LAGARDE (sophie.taylor@thomsonreuters.com; +33 1 4949 5219; Reuters Messaging: sophie.taylor.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.