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Financial News: IMF Sees France's Growth At 5.5% This Year

IMF Sees France's Growth At 5.5% This Year

01/19/2021 - 11:27:00 (RTTNews)

(RTTNews) - The International Monetary Fund projected France's economic growth at 5.5 percent for this year, after an estimated 9.0 percent slump in 2020, a year ravaged by the coronavirus pandemic. The medium-term output will remain below the pre-crisis trend as impaired balance sheets and higher unemployment weigh on activity, the IMF said in Article IV Consultation report, released on Tuesday. "Risks to the forecast are large and dominated by the virus dynamics," the lender added.

The unemployment rate is projected to climb to 10.4 percent this year from 8.7 percent last year. The budget deficit is forecast to narrow to 7.7 percent of GDP from 10.6 percent last year. The public debt is projected to rise to 117.6 percent of GDP from 115.3 percent.

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