France to see worst post-war downturn this year: minister

France to see worst post-war downturn this year: minister

© Reuters. FILE PHOTO: French Finance Minister Le Maire gives New Year’s address to economic actors

PARIS (Reuters) – France will likely see its worst post-war economic downturn this year, far surpassing the -2.2% slump seen in 2009 after the global financial crisis, its finance minister said on Monday.

“We will probably be at more than the -2.2% in 2009. That’s shows the magnitude of the economic shock we are facing,” Le Maire told the Senate in hearing by teleconference.

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.

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