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French economy to contract over 10 per cent in 2020

France's economy is on course to shrink over 10 per cent in 2020 due to the coronavirus pandemic, the central bank said on Tuesday.

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Paris Published on: June 09, 2020 21:10 IST
French economy to contract over 10 per cent in 2020
Image Source : AP

French economy to contract over 10 per cent in 2020

France's economy is on course to shrink over 10 per cent in 2020 due to the coronavirus pandemic, the central bank said on Tuesday. In a statement, the Bank of France said the country's economy will only return to pre-coronavirus levels by mid-2022, reports the BBC.

Unemployment is likely to hit highs of above 11.5 per cent halfway through next year, it said.

Phase two of France's lockdown easing began on June 2, including an end to a 100 km travel limit.

Many bars and restaurants have reopened outside.

The head of the government's scientific advisory council said on June 6 that the pandemic was "under control" in France.

As of Tuesday, the number of COVID-19 cases in France stood at 191,313, with 29,212 deaths.

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