France lowers growth forecast for 2021

France lowers growth forecast for 2021


French Economy Minister Bruno Le MaireHe reported that they revised the growth forecast for 2021, which they announced earlier, to 5 percent by decreasing 1 point.

Le Maire, in a statement to the national press, stated that the 4-week curfews that were initiated yesterday across the country will also affect the economy negatively.

Stating that they revised their growth forecast to 5 percent by decreasing 1 point from 6 percent for 2021, Le Maire said that they also increased their public debt and deficit estimates as a natural result of this decrease.

PUBLIC DEBT INCREASED 3 POINTS MORE

French Economy Minister Le Maire stated that they foresee that the ratio of public debt to gross domestic product (GDP) will increase by 3 percentage points to 118 percent, and the public deficit will increase by half a point to 9 percent.

However, Le Maire noted that there will be no increase in taxes.

France’s gross domestic product decreased by 8.2 percent in 2020.


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