French Economy Minister Bruno Le Maire attends a press conference after the weekly cabinet meeting, as the spread of the coronavirus disease (COVID-19) continues, in Paris, France March 25, 2020. Francois Mori/Pool via REUTERS
France will likely see its worst post-war economic downturn this year, far surpassing the -2.2% slump seen in 2009 after the global financial crisis, its finance minister said on Monday.
"We will probably be at more than the -2.2% in 2009. That's shows the magnitude of the economic shock we are facing," Le Maire told the Senate in hearing by teleconference.
The government estimated last month in an emergency budget update that the economy would contract 1% this year, but has since indicated that it would have to revise that figure.
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