France is dropping its GDP growth forecast for this year from 1.4% to 1% and will slash spending by about €10 billion, the country’s finance minister has said. Bruno Le Maire announced in a TV interview on French channel TF1 on Sunday that the government will cut the budget of each ministry and certain governmental initiatives with immediate effect, to offset the sluggish growth outlook. Doing so will enable France to keep its target of lowering its deficit to 4.4% in 2024 in its sights, the finance minister said, assuring that the government will not raise taxes. The deficit stood at 4.9% in …