The Bank of France released its growth forecasts on Friday. France's central bank expects the French economy to expand at an average 1.2% in 2015, 1.4% in 2016, down from the previous estimate of 1.8%, and 1.6% in 2017, down from the previous estimate of 1.9%.

Effects from low oil prices and a weaker euro are expected to fade in the coming year, according to the Bank of France.

Inflation is expected to be 0.1% in 2015, down from the previous estimate of 0.3%, 1.0% in 2016, down from the previous estimate of 1.4%, and 1.5% in 2017, down from the previous estimate of 1.7%.