“We have chosen to take on debt to save our economy: more debt for fewer bankruptcies,” Le Maire said. The French government has downwardly revised its gross domestic product forecast for 2020, with the aim of taking into account the impact of the latest coronavirus-related restrictions. Forecasted impact of the novel coronavirus COVID-19 on real gross domestic product (GDP) growth in France from 2020, by scenario [Graph]. Accessed November 17, 2020. https://www.statista.com/statistics/1103142/impact-coronavirus-gdp-france/, OECD. "Forecasted impact of the novel coronavirus COVID-19 on real gross domestic product (GDP) growth in France from 2020, by scenario." This will alert our moderators to take action. Le Maire said the state expects to spend around 24 billion euros on partial unemployment benefits, and the total emergency spending could be more than 100 billion euros budgeted if necessary. The French capital's finance district of La … Issued on: 09/04/2020 - 18:31. The ideal entry-level account for individual users. The eurozone's second-largest economy is expected to contract 11% this year, the economy minister Bruno Le Maire said Friday in an interview with radio station France Inter. France cuts its 2020 GDP forecast to an 11% contraction. The French government was forced to revise its economic and financial forecasts for the second time in less than a week after President Emmanuel Macron extended the lockdown to combat the coronavirus. France 24 is not responsible for the content of external websites. Download The Economic Times News App to get Daily Market Updates & Live Business News. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). "There are still uncertainties and this forecast could still change, depending on how long this confinement lasts and how we come out of it," he said. Choose your reason below and click on the Report button. Then you can access your favorite statistics via the star in the header. Tomorrow is different. 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Extra spending to support companies and workers through the confinement will increase the budget deficit, and the situation could get worse still as there are uncertainties about the health crisis in Asia, the economy in the U.S. and how the virus could spread in Africa, according to Finance Minister Bruno Le Maire. Please create an employee account to be able to mark statistics as favorites. Your Reason has been Reported to the admin. France 24 - International breaking news, top stories and headlines. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from, The source adds the following information: "The Outlook focuses on two equally probable scenarios – one in which a second wave of infections, with renewed lock-downs, hits before the end of 2020, and one in which another major outbreak is avoided. Profit from additional features by authenticating your Admin account. As a Premium user you get access to background information and details about the release of this statistic. Statista. America Locks Down From Atlantic to Pacific as Covid Rages, Moderna’s Covid Vaccine Found 94.5% Effective in Early Analysis, Tesla to Join S&P 500 Next Month as Largest-Ever New Member, Dow Average Climbs to Record on Vaccine; Oil Gains: Markets Wrap, Stocks Ease Off Record Highs With Virus in Focus: Markets Wrap. Pitch now & stand a chance to win Rs 1 crore, Yogi Adityanath frees firecracker seller, sends Diwali gift to his daughter, Multibaggers in making? France’s actions are weighing heavy on public finances as the state is covering the majority of the incomes of furloughed workers, delaying or even canceling tax collection, and guaranteeing loans to avoid bankruptcies. This page has economic forecasts for France including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the France economy. France - Economic Forecasts - 2020-2022 Outlook. Audience ratings certified by ACPM/OJD. This feature is limited to our corporate solutions. Government revises 2020 GDP forecast to -8% from -6%, Budget deficit to reach 9% of GDP in 2020, public debt 115%, EU to Propose `Ambitious' Budget in Response to Virus. You only have access to basic statistics. The French government has downwardly revised its gross domestic product forecast for 2020, with the aim of taking into account the impact of the latest coronavirus-related restrictions. Then you will be able to mark statistics as favourites and use personal statistics alerts. Private consumption and investment activity are seen expanding robustly, supported by fiscal stimulus measures, while firming global demand will boost exports. Please do not hesitate to contact me. Le Maire said. (June 10, 2020). Learn more about how Statista can support your business. Economic forecast for France; Economic forecast for France. The additional health spending alone for the coronavirus fight will be lifted to seven billion euros from two billion euros, Le Maire said, ahead of presenting a new 2020 budget next week. Daily newsletterReceive essential international news every morning, Take international news everywhere with you! Directly accessible data for 170 industries from 50 countries Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. France will base an emergency budget on economic output contracting 8% this year, instead of 6% as it had planned last week. 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Central bank sees French GDP down 9-10% in 2020. William Horobin. As soon as this statistic is updated, you will immediately be notified via e-mail. French President Emmanuel Macron on Wednesday announced tough restrictions aimed at curbing the spread of the pandemic. France is already in recession after its economy shrank a whopping six percent in the first quarter alone, with nationwide business closures and stay-at-home orders in effect during the last two weeks of March. New, Everything you need to know about the industry development, Find studies from all around the internet. and over 1 Mio. Update, Insights into the world's most important technology markets, Advertising & Media Outlook "We will have a challenging fourth quarter because we will be confined," Mr. Budget Minister Gerald Darmanin said on France Info radio that the deficit will reach 9% of GDP, and public debt 115%. However, the revision of the 2020 forecast has been "moderate" thanks to the "strong rebound" of the economy in the third quarter, the minister said. 52 shares. OECD. The French capital's finance district of La Défense looking deserted during the coronavirus lockdown. France’s Extended Lockdown Pushes Economy Into Deeper Recession. The Banque de France had forecast in September that economic activity, or GDP, would decline by 8.7 percent this year. The French government has downwardly revised its gross domestic product forecast for 2020, with the aim of taking into account the impact of the latest coronavirus-related restrictions. Are you interested in testing our corporate solutions? Forecasted impact of the novel coronavirus COVID-19 on real gross domestic product (GDP) growth in France from 2020, by scenario [Graph]. OECD. You need a Single Account for unlimited access. , April 13, 2020, 11:45 PM PDT. “We have to be very cautious about these estimations,” he said on BFMTV. The budget foresees a public deficit of 10.2% of GDP in 2020 and 6.7% of GDP in 2021. Register in seconds and access exclusive features. France. ", COVID-19 cases worldwide as of November 16, 2020, by country, Real GDP growth by quarter in the U.S. 2011-2020, U.S. unemployment rate: seasonally adjusted October 2020, Cumulative cases of COVID-19 worldwide from January 8 to November 15, 2020, by day. In Statista. As a Premium user you get access to the detailed source references and background information about this statistic. "This debt is necessary to keep companies from going bankrupt and our economy from sinking," Le Maire said in a joint interview with Budget Minister Gerald Darmanin. You need at least a Single Account to use this feature. (June 10, 2020). Chart. France forecasts 6% GDP plunge this year due to coronavirus . Please authenticate by going to "My account" → "Administration". France's economy is recovering largely in line with forecasts and any revision would be upward, Bank of France Governor Francois Villeroy de Galhau said on Thursday. 2 hours Australian Dollar Eyeing Yearly High Ahead of RBA Minutes, Jobs Data DailyFX 2 hours Rich Dad Poor Dad Author: Bitcoin Rally Shows U.S. Dollar Is … June 10, 2020. Have a confidential tip for our reporters? Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Government revises 2020 GDP forecast to -8% from … France is preparing to cut its forecast for an 8% rebound in economic growth in 2021 in the wake of new lockdown measures imposed to contain the second wave of … The spending will sharply increase the national budget deficit to 7.6 percent of GDP for 2020 — well beyond the eurozone's limit of three percent — and push up public debt to 112 percent of GDP from the 99 percent forecast earlier this year, Le Maire told financial daily Les Echos.

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