French President Francois Hollande said on Monday that the French economy is expected to grow 1% this year and 1.5% next year. But he added that this year's growth would not be enough to reduce unemployment.

Hollande noted that the country's budget deficit is expected to be 3.8% of gross domestic product (GDP) this year and 3.3% in 2016.

The French president also said that he expects the Chinese economy to expand in the long-term period.