finance

French deficit seen at 11.3% of output in 2020 – minister


© Reuters. Paris during the second national lockdown due to the spread of COVID-19 infection

PARIS (Reuters) – France will end 2020 with a public deficit of 248 billion euros (223.25 billion pounds), or 11.3% of its economic output, junior economy minister Olivier Dussopt said in an interview published on Sunday.

The French government this week shifted its economic forecasts after the country entered a second lockdown to fight a resurgence in coronavirus infections. The economy is now expected to contract by 11% in 2020, compared to an earlier estimate of 10%.

Dussopt told Le Journal du Dimanche newspaper that the COVID-19 crisis has so far cost France 186 billion euros, in terms of lost income and due to measures brought in to counter the epidemic and its economic consequences.

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