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Central bank sees 9-10 pct recession for French economy in 2020

The governor of the Bank of France, Francois Villeroy de Galhau, on Monday estimated France’s economy to contract by between 9 and 10 percent this year, worse than his previous estimate of 8.7 percent.

“Before the second wave we thought we would have a recession of a bit less than 9 percent. We now expect that for the whole of 2020 we will be between minus 9 and minus 10 percent,” de Galhau told RTL radio.

“Our estimate…will of course depend on the continuation of the confinement,” he added. Source Xinhuanet

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