French economy to contract over 10 pct in 2020: central bank
PARIS. KAZINFORM The French economy, the eurozone's second largest, is on course to contract 10.3 percent in 2020 as the coronavirus pandemic had triggered the country's worst post-war recession, the Bank of France (Banque de France) said on Tuesday.
In its monthly outlook, the French central bank estimated that «an improvement in health situation and adapting businesses to the new circumstances would make it possible to gradually reduce activity losses... even as the virus continues to circulate,» Xinhua reports.
«A gradual rebound will follow over the next few quarters, as economic activity adapts to the new context. But on an annual average in 2020, the GDP (gross domestic product) would remain very strongly affected, with a decline of more than 10 percent,» it said.