France Revised Its 2021 Growth Forecast

France revised its 2021 growth forecast. The country has lowered its forecast to 5 percent.

Deciding to close a new national shutdown within the scope of the new type of coronavirus (Covid-19) measures, France lowered its growth expectation for this year. France, which lowered its 2021 growth expectation to 5 percent, shrank 8.1 percent in 2020. French Finance Minister Bruno Le Maire lowered the country's growth forecast for this year from 6 percent to 5 percent. Due to the negative effects of the coronavirus epidemic, the country's economy shrank by 8.1 percent in 2020. Speaking to Le Journal du Dimanche newspaper, Le Maire stated that the decision to close educational institutions and 150 thousand stores is critical to slow the spread of the virus, but these measures will have an impact on the French economy. In March, according to economist expectations compiled by Bloomberg, the country was expected to grow 5.7 percent in 2021. French President Emmanuel Macron announced that the restrictions in 19 regions of the country will be applied throughout the country for four weeks.