Home » Business » French finance minister expects economic slump by 8 percent | 04/14/20

French finance minister expects economic slump by 8 percent | 04/14/20

PARIS (dpa-AFX) – According to finance minister Bruno Le Maire, the French economy will be hit hard by the Corona crisis this year. “We expect economic output to decline by eight percent,” Le Maire told BFM TV on Tuesday. The minister plans to present his revised budget on Wednesday. Last week, the French government’s budget planning was still assuming a 6 percent drop in gross domestic product (GDP) this year.

The slump in the French economy is therefore likely to be greater than in Germany. Last week, the leading economic research institutes had forecast a 4.2 percent decline in German economic output this year. However, the institutes had pointed out that there are considerable risks associated with the current forecast – for example if the corona pandemic weakens much more slowly. / Jkr / jsl / mis

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