France to experience worst post-war slowdown this year: Minister

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PARIS – France will likely experience its worst post-war economic slowdown this year, far exceeding the -2.2% decline observed in 2009 after the global financial crisis, its finance minister announced on Monday.

“We will likely be over -2.2% in 2009. This shows the magnitude of the economic shock we face,” The Mayor said in the Senate by teleconference hearing.

The government estimated last month in an emergency budget update that the economy would contract by 1% this year, but has since said it should revise that figure.

(Report by Leigh Thomas; Edited by Alison Williams)

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