French economy ‘will take two years to recover’ from Covid-19 pandemic
The French central bank says the country’s economy will not recover from the Covid-19 crisis until mid-2022. The Banque de France is expecting a 10 percent reduction in growth this year, followed by a rebound in 2021 and 2022. The bank also predicts that around a million jobs will be lost this year, with unemployment rising to 11.8 percent next year. Also today, the French government unveils its €15 billion rescue plan for the aerospace industry, which Finance Minister Bruno Le Maire believes will save 100,000 jobs in the sector.