Coronavirus: According to Bruno Le Maire, the Epidemic Cost France 0.1 Points of Growth

Coronavirus is affecting the growth of economy in France

The Minister of Economy, Bruno Le Maire, assesses the impact of the coronavirus on French growth at -0.1%. If the epidemic continues, the impact could be greater.

The coronavirus outbreak could halt French growth by 0.1 percentage point in 2020, French Economy Minister Bruno Le Maire said on Thursday.

Admit that we are not too far from the peak of the epidemic, our assessment is that the impact on Chinese growth will be around one point over the year, said the minister at the microphone of RMC / BFMTV . This will mean 0.2 points less growth globally and 0.1 points less growth for France, added Bruno Le Maire, citing the assessments made by his ministry. 

If it ever persists and the epidemic grows, of course, the impact will be greater, he warned.

The Chinese economy in slow motion

French GDP growth slowed to 1.2% in 2019, with a particularly bad fourth quarter which saw gross domestic product fell by 0.1%.

In 2003, when there was the episode of SARS, China was about 8% of the world’s wealth, today it’s almost 20%, said, Bruno Le Maire.

The fact that the Chinese economy is idling poses problems on many value chains in many industrial sectors, he explained, taking the example of the automotive industry. When you want to supply yourself with cabling and brake pedals, you turn to companies that are in China.

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