The new restrictive measures taken to fight against the coronavirus have led the French government to lower its growth forecast for 2021 by one point, to 5%, announced the Minister of the Economy, Bruno Le Maire, in the Journal du Dimanche.

The total cost of aid is estimated at 11 billion euros in April.

The new restrictive measures taken to fight the Covid-19 pandemic are leading the French government to lower its growth forecast for 2021 by one point, to 5%, announced the Minister of the Economy, Bruno Le Maire, in Sunday Newspaper.

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A "sincere and prudent" estimate

"Closing schools and 150,000 shops is essential to curb the circulation of the virus. But these measures will have an impact on the French economy. We will therefore revise our growth from 6% to 5% for 2021", explained the minister, while the French GDP had contracted by 8.2% in 2020. "This estimate (for 2021) is both sincere and prudent", he assured.

The total cost of aid is estimated at 11 billion euros in April, he recalled, adding that "the presidential promise of 'whatever the cost' will be kept".

This sum includes the total cost of the solidarity fund, partial unemployment for the State and exemptions from social contributions, including for establishments which remain open but are strongly affected by the crisis.

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Slowness in the ratification of the European recovery fund

The traders will be able to receive, like the restaurants, an aid of up to 200,000 euros per month.

"We will also compensate a part of their unsold stocks", indicated Bruno Le Maire, while the high rents of the companies "will be supported within the limit of 10 million euros". 

The Minister of the Economy once again blasted the slowness of certain countries to ratify the European recovery fund of 750 billion euros.

"France was to receive 5 billion in July. It is unfortunately unlikely that we will receive this amount on that date," he regretted.