France's economy will take two years to recover from its worst post-war recession, triggered this year by the coronavirus outbreak, the central bank said on Tuesday.
FILE PHOTO: A man wearing a protective face mask walks past tables and chairs installed on a terrace with social distancing signs on the pavement at a restaurant in Paris as restaurants and cafes reopen following the coronavirus disease outbreak in France, June 2, 2020. REUTERS/Benoit Tessier/File Photo
The euro zone’s second-biggest economy is on course to contract 10.3% this year, before it bounces back with growth of 6.9% in 2021 and 3.9% in 2022, the Bank of France forecast. The central bank said the outlook could be brighter if the virus is quickly brought under control, while a second wave of infections could plunge the economy into a 16% downturn this year followed by growth of only 6% in 2021 and 4% in 2022.
President Emmanuel Macron put France under one of the most stringent lockdowns in Europe in mid-March, effectively shutting down large swathes of the economy until restrictions began to be lifted on May 11.
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