Fast Recovery in the French Economy!

A rapid recovery was observed in the French economy, which had difficulties in combating the coronavirus outbreak. Making a statement on the subject, the President of the French Central Bank stated that the economy is recovering better than expected. France, where 167 thousand people were infected and 29 thousand 893 lives were lost due to the coronavirus epidemic, also decreased economically. Speaking on Sunday, the President of the French Central Bank, Francois Villeroy de Galhau, underlined that the French economy affected by the epidemic was recovering, even slightly faster, in line with the estimates made last month. In the estimates of the second largest economy of Europe, announced by the Central Bank last month, it was stated that economic activity is expected to be 12 percent below the normal level in June. In March, this figure was 32 percent below the normal level for France. The central bank, which sources the sector surveys that companies participate, will revise its forecasts on Tuesday accordingly. "Recovery is going as we want now, maybe we can say that it is a little better than we expected," said Villeroy, who made a statement on LCI television. The French Central Bank predicted that the economy will shrink by 15 percent in the second quarter. In his speech Sunday, Villeroy said that the second quarter could be "a little better" than expected.