Wednesday, 10 Jun 2020 10:48 PM MYT
PARIS, June 10 — France is likely to suffer 800,000 job losses in coming months, the finance minister warned today, as the economy reels from the effects of a lockdown imposed to contain the coronavirus pandemic. “The shock is considerable and calls for massive public policies to support and accompany all those affected,” Le Maire said.
The Bank of France said yesterday the French economy will likely shrink about 10 per cent, resulting from the countrywide strict lockdown imposed in March.Unemployment is expected to surge to above 11.5 per cent by mid-2021, well above previous peaks, the bank said.
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