Choose your reason below and click on the Report button. Daily newsletterReceive essential international news every morning, Take international news everywhere with you! The Banque de France had forecast in September that economic activity, or GDP, would decline by 8.7 percent this year. You can only download this statistic as a Premium user. 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. "Forecasted Impact of The Novel Coronavirus Covid-19 on Real Gross Domestic Product (Gdp) Growth in France from 2020, by Scenario. You only have access to basic statistics. The content you requested does not exist or is not available anymore. The French central bank said it was the country's worst performance since World War II, and warned that economic activity had plunged by 32 percent since the lockdown began. "Forecasted impact of the novel coronavirus COVID-19 on real gross domestic product (GDP) growth in France from 2020, by scenario." 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. Download The Economic Times News App to get Daily Market Updates & Live Business News. France Economic Growth In 2021, the economy is set to rebound from its Covid-19-induced contraction this year. Statista. France cuts its 2020 GDP forecast to an 11% contraction. 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. Directly accessible data for 170 industries from 50 countries "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. France 24 - International breaking news, top stories and headlines. Le Maire said. “We have to be very cautious about these estimations,” he said on BFMTV. In Statista. “We have chosen to take on debt to save our economy: more debt for fewer bankruptcies,” Le Maire said. The ideal entry-level account for individual users. 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Are you interested in testing our corporate solutions? New, Figures and insights about the advertising and media world, Industry Outlook France's central bank expects the country's economic activity to decline between 9 and 10 percent in 2020, its chief Francois Villeroy de Galhau said Monday on RTL. France 24 is not responsible for the content of external websites. "We will have a challenging fourth quarter because we will be confined," Mr. As a Premium user you get access to the detailed source references and background information about this statistic. 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. You need at least a Single Account to use this feature. and over 1 Mio. France will base an emergency budget on economic output contracting 8% this year, instead of 6% as it had planned last week. Then you will be able to mark statistics as favourites and use personal statistics alerts. 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. This statistic is not included in your account. Please create an employee account to be able to mark statistics as favorites. Profit from additional features by authenticating your Admin account. This will alert our moderators to take action. Tomorrow is different. A paid subscription is required for full access. ", 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. France - Economic Forecasts - 2020-2022 Outlook. Issued on: 09/04/2020 - 18:31. Please authenticate by going to "My account" → "Administration". 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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. 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. Private consumption and investment activity are seen expanding robustly, supported by fiscal stimulus measures, while firming global demand will boost exports. Pitch now & stand a chance to win Rs 1 crore, Yogi Adityanath frees firecracker seller, sends Diwali gift to his daughter, Multibaggers in making? Central bank sees French GDP down 9-10% in 2020. The French economy grew 18.2% during the third quarter following a 13.7% decline in the second quarter, French statistics agency Insee said Friday in a first estimate for the period. facts. (June 10, 2020). , April 13, 2020, 11:45 PM PDT. Then you can access your favorite statistics via the star in the header. 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. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. As soon as this statistic is updated, you will immediately be notified via e-mail. You need a Single Account for unlimited access. "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. Audience ratings certified by ACPM/OJD. Budget Minister Gerald Darmanin said on France Info radio that the deficit will reach 9% of GDP, and public debt 115%. Forecasted impact of the novel coronavirus COVID-19 on real gross domestic product (GDP) growth in France from 2020, by scenario [Graph]. The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). 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. © 2020 Copyright France 24 - All rights reserved. For reprint rights: Inciting hatred against a certain community, Healthcare innovation awards. Corporate solution including all features. 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. The French capital's finance district of La Défense looking deserted during the coronavirus lockdown. Chart. GDP in France is expected to reach 2400.00 USD Billion by the end of 2020, according to Trading Economics global macro models and analysts expectations. Accessed November 17, 2020., OECD. Register in seconds and access exclusive features. In, OECD. 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 … Government revises 2020 GDP forecast to -8% from … Have a confidential tip for our reporters? France. Last week, the government expected 7.6% and 112%. William Horobin. 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). Please contact us to get started with full access to dossiers, forecasts, studies and international data. Please do not hesitate to contact me. Economic forecast for France; Economic forecast for France. 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. 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. The budget foresees a public deficit of 10.2% of GDP in 2020 and 6.7% of GDP in 2021. By. OECD. 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 … June 10, 2020. The previous forecast of the French government was for a 10% contraction. 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 France forecasts 6% GDP plunge this year due to coronavirus . 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. Learn more about how Statista can support your business. French President Emmanuel Macron on Wednesday announced tough restrictions aimed at curbing the spread of the pandemic. 52 shares. 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