Tuesday, November 24, 2020
Home Business Is France Going to Witness Its Deepest Economic Downturn? Find it Out...

Is France Going to Witness Its Deepest Economic Downturn? Find it Out Here

Minister: France May See Deepest post-WW2 Downturn This Year

France will likely see its deepest economic downturn this year since the end of World War Two, far surpassing the slump seen after the global financial crisis, its finance minister said on Monday.

Bruno Le Maire told a Senate hearing by teleconference that eurozone’s second-biggest economy would likely contract more than it did in 2009.

“That shows the magnitude of the economic shock we are facing,” he said.

France economy
A policewoman wears a mask to protect herself against the spread of the new coronavirus, left, patrols at the garden of the Eiffel Tower in Paris, France. VOA

The government estimated last month in an emergency budget update that the economy would contract 1% this year, but has since indicated that it would have to revise that figure.

Please follow NewsGram on Instagram to get updates on the latest news

With the French economy currently running at two-thirds of normal levels, each month of government-imposed confinement could knock 3 percentage points off of growth, the INSEE official stats agency estimated last month.

Also Read- Physical Abuse During Childhood May Lead To Heavy Cigarette Use: Study

Some 5 million French workers — one out of four in the private sector —  have been put on furloughs subsidized by the state to avoid mass permanent layoffs, the Labour Ministry said on Monday.  (VOA)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,781FollowersFollow

Most Popular

Lachit Divas: Untold Story Of Hero Lachit Borphukan

We have heard a lot about the valor of Shivaji, Bajirao, and others, but not much is known about the Ahoms. In 1682, the...

List Of New Cabinet Members Selected By U.S. President Joe Biden

U.S. President-elect Joe Biden has begun naming members of his new Cabinet, as well as other top-level administration officials. Biden has pledged to choose...

India Sees Consecutive Year-On-Year Decline In Coal Funding: Report

The third annual Coal vs Renewable Financial Analysis 2019 marks a second consecutive year-on-year decline in coal funding in India following a 90 percent...

Mobile Fingerprinting App Becomes A Core Tool In Deportation Crackdown

A mobile fingerprinting app U.S. immigration agents use to run remote ID checks in the field has become a core tool in President Donald...

People With Diabetes And Eye Disease Have An Increased Risk Of Requiring Intubation

Researchers have revealed that people with diabetes and eye disease have a five-fold increased risk of requiring intubation when hospitalized with Covid-19. The study, published...

A Green Mediterranean Diet Can Be Better For Cardiovascular And Metabolic Health

A green Mediterranean diet, containing even more plant matter and very little red meat or poultry, maybe even better for cardiovascular and metabolic health...

Featherweight Jeans Are The Latest Offerings That Intersects Style And Comfort

A quality pair of jeans is a crucial wardrobe must-have for the modern man: classic, effortless, and eternally cool. This basic denim has evolved...

10 Interesting Facts About Lord Hanuman

Hindu dharma is Polytheist at the same time it is Monotheist, one can have a belief in one major God and also worship other...

Recent Comments