World
Print edition: 2020-04-10
France sees GDP plunging 6pc this year
The French government expects GDP to drop six percent this year because of lost business during the coronavirus lockdown, Finance Minister Bruno Le Maire said Thursday while announcing a relief plan would be more than doubled to 100 billion euros ($109 bi
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The French government expects GDP to drop six percent this year because of lost business during the coronavirus lockdown, Finance Minister Bruno Le Maire said Thursday while announcing a relief plan would be more than doubled to 100 billion euros ($109 billion).
The spending will sharply increase the national budget deficit to 7.6 percent of GDP for 2020 - well beyond the eurozone's limit of three percent - and push up public debt to 112 percent of GDP from the 99 percent forecast earlier this year, Le Maire told financial daily Les Echos.
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