The IMF announces that the global economy will experience its “worst recession” since the 1930s in 2020, with an expected -3% (it was only -0.1% during the 2009 crisis) and -7.5% in the Eurozone (vs. -4.5% in 2009).
Bercy updates the figures for the French economy under the corona version.
2020 Growth: -8%; public deficit: -9% (the highest deficit since 1945); public debt: 115% of GDP; cost of partial unemployment: €24 billion…
For the record:
The largest holder of French debt securities is foreign: 54% of our national debt is held by foreign banks and financial institutions (public and private) for whom trust is the primary criterion.
Then, 26% is held by insurers (via life insurance) and French banks that finance businesses and individuals (mortgage credit).
Finally, 20% is held by the Bank of France.
Keep calm & carry on (stay calm and stay the course) if we don’t want to go off track!
