France is set to retain its growth forecast for this year at 1 percent in the revised budget documents to be presented next week, even though policymakers expect a better outcome, Finance Minister Michel Sapin said Thursday.

The minister favored caution over the growth outlook even as the government hopes to surpass the forecast figure.

The French economy grew 0.4 percent in 2014, same as in 2013. The European Commission forecast the French economy to expand 1 percent in 2015 and 1.8 percent next year.

Regarding Greece, Sapin said the Greek government has made progress in the recent list of economic reforms but more needs to be done.

The material has been provided by InstaForex Company –