Bruno Le Maire confirms a drop in French GDP in the fourth quarter of 2020

"I can confirm that after a rebound that we expect around 16% in the third quarter of 2020, growth will be negative in the fourth quarter in 2020", he told the Assembly during the examination of the draft Budget for 2021.

On Friday, Mr. Le Maire warned that the GDP risked falling in the fourth quarter, after the government's decision to extend the curfew, which now concerns 54 departments and Polynesia.

The curfew penalizes several sectors of activity, already strongly affected by the health crisis, such as hotels and restaurants, events or culture.

In front of the deputies, the minister also indicated that he was going to reactivate the weekly monitoring of the sectors most affected with the social partners and local elected officials.

"We will adapt all our devices to the gravity of the economic situation" as long as the epidemic continues, he still promised, while the government has already strengthened public support (loan guaranteed by the State, exemptions from charges, partial unemployment, etc.) to the sectors most penalized by curfew.

"If new health measures were to be taken in the coming days, we will propose (...) to increase the appropriations for support systems for our economy", added the minister, at a time when calls from scientists are increasing in favor of a reconfinement, even partial.

These new aids will be announced "when we will have more visibility on the health situation and on the necessary measures", specified Mr. Le Maire.

The government continues to forecast a 10% recession in the French economy this year, before rebounding 8% next year.