France’s GDP shows a fall of 6 %

The French economy, the second largest in Europe, fell by 6% in the first quarter of 2020 as a consequence of the impact of the Covid-19 pandemic and the containment measures implemented, which would be the worst GDP evolution data since World War II and similar to that recorded during May 68.

In an interview, the Governor of the Bank of France, François Villeroy de Galhau, noted that the French economy has lost in the first quarter about a third of its level of activity.

“This corresponds to a growth of -6 % during the quarter, every fortnight costs us 1.5 % of annual GDP and an additional 1 % of public deficit,” he assured.

In this sense, the central bank responsible stressed that in order to find an impact similar to that of this crisis, it should be necessary to go back to “May 1968”, when for several weeks the French economy remained closed due to the protests.

“In the second quarter, GDP fell more than 5 %, which is close to what we are experiencing today.”

In this way, Villeroy de Galhau anticipated a very negative growth in France in 2020, although he expressed his confidence that “it should be positive in 2021″, stressing that for this he is “helping employers and their employees, in order to be in a position to start growth faster when containment measures end.”

K. Tovar

Source: FinanzasDigital