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 during a 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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