The Minister of the Economy, Bruno Le Maire, is preparing the spirits for a strong recession this year in France. Many economists are now banking on a drop in GDP of more than 5%.
“The worst growth figure that has been made by France since 1945 is in 2009 after the great financial crisis of 2008: -2.9%. We will probably be well above -2.9% ” this year. Heard this Monday by the senators, the Minister of the Economy and Finance, Bruno Le Maire, did not hide the economic cataclysm constituted by the coronavirus epidemic and the confinement of the population to try to stop it.
He’s not the only one in the dark. Weeks go by and economists significantly lower their forecasts. Obviously, everything will depend on the duration of the confinement, still unknown, and the return “to normal”, again, very uncertain. But the few percent of GDP decline in 2020 is no longer appropriate.