The year 2020 will be for France the worst year of economic recession since the end of the Second World War, 75 years ago. This was stated Monday, April 6, the Minister of Economy, Bruno Le Maire, during a hearing by the Senate Committee on Economic Affairs.

"The worst growth figure that has been made by France since 1945 is in 2009 after the great financial crisis of 2008: -2.2%. We will probably be far beyond -2.2% "this year, said the minister.

"This shows the extent of the economic shock we are facing," he insisted, with many sectors completely shut down due to the confinement.

Six GDP points for two months of containment

In its rectified budget, adopted in mid-March, the government had initially envisaged a 1% recession this year, but Bruno Le Maire had a few days later already estimated that the decline in economic activity would be much greater.

>> Read also: Will the coronavirus have the skin of neoliberal capitalism?

According to INSEE, a month of confinement would cost France around 3 points of GDP over a year, and two months of confinement around 6 points.

With AFP

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