Coronavirus: the French economy, one of the most affected by the crisis

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France is among the countries most economically affected by the coronavirus. This is revealed by an analysis published Friday June 5 by the French Observatory of Economic Conditions (OFCE).

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Impacted by the measures put in place to fight the Covid-19 pandemic , the French economy is one of the most affected by the crisis, according to a report by the OFCE revealed on Friday June 5. The Observatory has established a world map of countries by classifying them according to their level of economic resistance to the coronavirus, based on data from April.

“  We can classify countries in the world in three categories. We have the countries of southern Europe, the other developed countries and the countries of the rest of the world and the Asian countries. In the first category, there are France, Italy and Spain. These are the countries that have been the most impacted,  ”analyzes Eric Heyer, economist and deputy director of the OFCE, evoking the consequences of confinement for these three countries.

Assessment of the economic impact of the # Covid_19 pandemic and containment measures on the world economy in April 2020
▶ ️https: //t.co/0tFU1pGP0W pic.twitter.com/ato0foFsYd

Countries like France, where the tourism sector is extremely important, have been more affected by the crisis. “  There is the weight of tourism which is a little more important than elsewhere. However, this structure of the economy works against these countries  , ”recalls Eric Heyer.

According to the study, France experienced a fall "  of more than 30 points  " in added value in April. Conversely, the United States (-22 points) or Germany (-24 points) are doing a little less badly. As far as Asian and developing countries are concerned, "  we see both a much smaller drop in consumption and investment, and then overall less integration in the production chains, therefore an external impact which has much less of weight  ”, concludes the economist.

(With AFP)

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• Economy
• Economic crisis
• Coronavirus

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