French economy to shrink by 8% in 2020, government estimates
By France24
15 April 2020 |
7:13 am
The French government expects the economy to shrink by 8 percent in 2020, according to Finance Minister Bruno Le Maire. The budget deficit will also balloon to around 9 percent of GDP, as the government pumps €100 billion into its economic rescue plan. These latest forecasts come after President Emmanuel Macron announced some French shops and businesses would be allowed to re-open after May 11, but bars, restaurants and hotels would remain closed to limit the spread of Covid-19.
Related
Related
2 days ago
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.
38 mins ago
Meta announced a 27 percent jump in Q1 revenues but still saw shares tank after hours, amid fears over the social media giant's increased capital expenditure on AI infrastructure.
2 days ago
FG to integrate over 20% unbanked Nigerians into banking system says Shettima and more
11 hours ago
Nigeria has revoked 924 dormant mining licences while calling on investors to apply for the licences offered on a first-come, first-served basis. Meanwhile, the Lagos Chamber of Commerce and Industry is urging the government to review the mining industry strategy to attract mineral exploration investments, reignite mining project development, and accelerate new mineral discoveries.
1 day ago
Over the past two years, the French and Spanish police have been discovering the extent to which rubbish is illegally smuggled across the border. The phenomenon has long plagued Italy, where the mafia organises the trafficking, and is now reaching France and Spain.
1 day ago
Find these stories and much more when you grab a copy of The Guardian on Saturday.
Latest
36 mins ago
The Nordic model encompasses a strong welfare state, protection of workers through collective bargaining, good pension schemes and low levels of poverty. This system has gone hand-in-hand with a progressive approach to issues like gender equality and maternity or paternity leave. But the social model has come under pressure from the trends affecting Europe as a whole, such as Covid debt, inflation and the cost-of-living crisis, the demands of the green transition and – some would say – pressure from migration. We focus on the Nordic model as part of our series on groups of countries or regions within the EU.
1 hour ago
Palestinian authorities are calling for the UN to investigate what they call "war crimes", after reporting hundreds of bodies found in mass graves around hospitals in Gaza after Israeli raids. Some bodies were reported to have their hands tied or be stripped naked – although Israel calls the claims "baseless", saying it "examined" bodies buried by Palestinians in a bid to locate its hostages.
1 hour ago
In October 2023, for the first time in the history of the Catholic Church, women were allowed to participate in and vote at the Synod of Bishops, a religious gathering that had previously been reserved only for bishops.
2 hours ago
Brazil and Colombia experienced a "remarkable" decrease in forest loss in 2022 and 2023, a new report finds. The two countries are home to the Amazon rainforest, one of the world's greatest weapons against climate change.
3 hours ago
Food brand Everest, a household name in India, has said its fish curry spice blend was safe for use following concerns about a cancer-causing chemical.
3 hours ago
The leader of Russia's Orthodox Church has suspended the priest who led a memorial service for Kremlin critic Alexei Navalny. Church head Patriarch Kirill is a close ally of Russian President Vladimir Putin's.
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.