French economy to contract by 11% in 2020 - FORECAST

French economy to contract by 11% in 2020 - FORECAST
  • Clock-gray 10:56
  • calendar-gray 02 June 2020

The French economy is set to contract 11% this year due to the coronavirus crisis and a nationwide lockdown to contain it, Finance Minister Bruno Le Maire said on Tuesday, APA-Economics reports citing Reuters.

“We were hard hit by the virus, we took effective measures to protect French people’s health but the economy practically ground to a halt for three months,” Le Maire said on RTL radio.

“We’re going to pay for it with growth,” he said, adding that a budget update being prepared would forecast a contraction of 11% versus one of 8% forecast previously.

Mirsaid İbrahimzade

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