French economy expected to contract 11%, says Minister

The French economy is forecast to contract by 11% this year, higher than an earlier forecast of 10%, the country's Finance Minister Bruno Le Maire said during a radio interview.

The new national lockdown to prevent a resurgence of the Covid-19 pandemic in France, announced by President Emmanuel Macron earlier this week - looks set to impact the economy with many shops and businesses being forced to close their doors.

Nonethelss, Le Maire reiterated his hope that France could return to seeing decent economic growth figures by 2021.

“From 2021, we will be capable of being able to find once again growth figures, which will be good growth figures,” he told France Inter radio.

Le Maire also said this week that the total cost of financial support offered by the French state to companies during the lockdown would be €15 billion for each month it lasted. 

At present, the lockdown, which began today, is due to end on December 1, but could yet be extended. 

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