France's budget deficit will be 9.4% of GDP in 2021
The French Finance Ministry has revised its previously published forecast for the state budget deficit in 2021. It was raised by 0.4 percentage points to 9.4% of GDP. The head of the department, Le Maire, gave an interview on one of the French TV channels. In particular, he said that the country's economy will return to its pre-crisis state at the beginning of next year. France's finance minister expects the current year to end with a 5% increase in gross domestic product. He expressed confidence that the economic growth rates set out in the forecast will be achieved. Last week, statistics for the 1st quarter of this year were published. In relation to the indicator for the last quarter of 2020, the French economy shrank by 0.1% in January-March. The published data came as a surprise to analysts. They assumed that France's GDP increased by 0.4% in Q1. The Statistical Office also reported a 0.2% drop in French exports in the quarter. At the same time, imports showed an increase of 1.1%.