France will undoubtedly experience its worst year of economic recession since the end of the Second World War in 2020, the Minister of the Economy Bruno Le Maire said on Monday during a hearing by the Senate Economic Affairs Committee.
"The worst growth figure that has been made by France since 1945 is in 2009 after the great financial crisis of 2008: -2,2%. We will probably be far beyond -2,2% " this year, said the minister.
This figure of -2,2% corresponded to the first assessment at the time. It had been revised later to -2,9%, detailed the minister later, and France will also do less this year, it was said in Bercy.
"This shows the extent of the economic shock we are facing", he insisted, with many sectors completely shut down due to containment.
In its rectified budget adopted in mid-March, the government had initially envisaged a 1% recession this year, but Bruno Le Maire had a few days later already estimated that the decline in economic activity would be much greater.
According to INSEE, a month of confinement would cost France around 3 points of GDP over a year, and two months of confinement around 6 points.
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