PARIS (Europe) – France’s Finance Minister Bruno Le Maire announced that the French economy will contract 11% this year because of the coronavirus crisis and a nationwide lockdown that followed to control the spread of the coronavirus.
“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. We’re going to pay for it with growth.”
– Bruno Le Maire, French Finance Minister
Le Maire also added that a budget update was also being prepared and forecasted a contraction of 11% versus one of previous 8% forecast.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.