At least, that’s what the economists at the Bank of France believe in their forecasts presented this Monday.
They are counting on a GDP decrease of 8.7% this year, which is still a significant contraction but noticeably less severe than the one anticipated in June (-10.3%).
Until now, Bercy had been forecasting a GDP decline of 11% this year.
The growth rebound is expected to be stronger than predicted in 2021, at +7.4%. The GDP would return to its end of 2019 level, a year that saw a growth of 1.5%, by the first quarter of 2022, for which forecasts indicate a +3%.
According to the Bank of France, agriculture and the agri-food industry operated at 97% of normal in August.
However, the recovery varies significantly across sectors.
