The French government has reduced the forecast for GDP growth for the next year, and the budget for 2019 will be based on a new forecast, said Prime Minister Edward Philippe in an interview with Le Journal du Dimanche.

According to the forecast, the economy will grow by 1.7% in 2019, although it was previously predicted that the expansion will be 1.9%.

Nevertheless, Prime Minister Edward Philippe said that France intends to cut taxes and cut government spending.

The government will submit its budget for 2019 at the end of September.