France‘s economic outlook is deteriorating as the latest lockdown to contain the spread of Covid-19 is set to force the government to lower its forecasts for next year.
Finance Minister Bruno Le Maire said in an interview with Sunday paper Journal Du Dimanche that he will present a downgraded forecast in the next two weeks. The current 2021 budget is based on a 8% expansion of gross domestic product.
“The crisis is particularly violent and brutal for a certain number of sectors, and it will be long lasting,” Le Maire said.
A week after imposing a new lockdown, the number of Covid-19 cases continues to accelerate in France and hospitals are under increasing strain dealing with severely sick patients.
126,480 in U.S.Most new cases today
+3% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-0.914 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
4.7% Global GDP Tracker (annualized), Sept.