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France sees recession, announces 45 bn euros in virus business aid

By AFP
17 March 2020   |   9:39 am
French Finance Minister Bruno Le Maire warned Tuesday the country faced recession this year as he announced a 45-billion euro ($50-billion) aid package to help businesses and employees cope with the coronavirus crisis.

Bruno Le Maire – Ministre de l Economie Didier Guillaume – Ministre de l Agriculture et de l Alimentation

French Finance Minister Bruno Le Maire warned Tuesday the country faced recession this year as he announced a 45-billion euro ($50-billion) aid package to help businesses and employees cope with the coronavirus crisis.

The government, due to present a series of further support measures shortly, will base them “on a growth forecast of minus one percent, that is to say, negative growth,” Le Maire told RTL radio.

The forecast was “provisional,” he added.

Le Maire described the struggle against the coronavirus pandemic as an “economic and financial war” that will last some time.

“It will be lengthy, it will be violent… this war will require us to mobilise all our forces,” he said.