France’s economy will take at least two years to recover from the severe blows from the corona crisis. This is expected by the French central bank, which therefore states that the country’s economy will probably not return to pre-virus levels until 2022.

For this year, an economic contraction in France is predicted by more than 10 percent, after which growth should again grow by nearly 7 percent in 2021, and growth by nearly 4 percent in the following year. The prognoses can be more rosy if the virus is brought under control quickly. But if there is a second wave of infections, the French economy may shrink even more and recover less quickly.

Furthermore, the central bank believes that a million jobs may be lost in France this year and that unemployment will rise to nearly 12 percent in the first half of next year, with only a slow decline expected here. France faced severe lockdown measures against the virus, which are now eased.

About the author: Louise Roth

Louise Roth is the youngest member of WeeklyNewsReview team. Despite the young age Louise is interested in serious topics. Her main interests and education is all about economics and politics. But in our team she is the most productive do-it-all member, so she has to write on a variety of topics.

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