September 10, 2024

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Delighting finance buffs

Coronavirus: French economy likely to contract 8{b1ee4ac4d8d7b8e1af61a560a11ca52574b8103b547ccac8037ce0cdf9e7ba58} this year amid pandemic

Earlier, French President Emmanuel Macron on Monday announced he was extending a virtual lockdown to curb the coronavirus outbreak until May 11, adding that progress had been made but the battle not yet won.

French Finance Minister Bruno Le Maire. (Photo: Reuters)

The French economy is expected to contract 8 per cent this year, the finance minister said on Monday, revising the government’s outlook for the second time in a week.

“We will have a growth forecast of -8 in the updated budget law,” Bruno Le Maire told BFM TV, revising the estimate down from -6 per cent flagged on Thursday.

Earlier, French President Emmanuel Macron on Monday announced he was extending a virtual lockdown to curb the coronavirus outbreak until May 11, adding that progress had been made but the battle not yet won.

“Over the next four weeks, the rules must be respected,” the president said in a televised address to the nation.

He said that by May 11, France would be able to test every citizen presenting COVID-19 symptoms.

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