France will have “positive growth” in 2023, assures Bruno Le Maire

The Minister of Economy and Finance maintained his positive growth forecasts in 2023, despite a “difficult international environment”.

The government does not foresee a recession next year. Asked about the antenna LCIthe Minister of Economy and Finance Bruno Le Maire confirmed his forecast of “positive growth” for 2023. Faced with possible risks of recession, the minister affirmed that the French economy was “solid” and that “the results (were) there”.

“I do not mind that we look at all the disaster scenarios, but the reality is that in 2022, the French economy is resisting and that the international environment is difficult”, he continued.

He thus assured that growth would be “positive” next year. “France’s fundamentals are strong enough for us to get through this crisis,” he said.

On the other hand, the Minister of Economy and Finance did not reaffirm the government’s growth forecast of 1.4% in 2023, formulated last July.

A limited recession envisaged

On Friday, the governor of the Banque de France François Villeroy de Galhau had not ruled out the specter of a recession. “The European and French economies will face a significant slowdown next year, and we cannot rule out a limited recession,” he said in a speech at an event organized in Prague by the European think tank Eurofi. after mentioning a “sharp slowdown” on BFM Business.

If the French economy were to contract in 2023, a possible recession would however have “nothing to do” with the historic decline in French GDP in 2020 due to the Covid-19 pandemic, the Banque de France had qualified with the AFP. The recession would also be “limited in time”, the same source points out.

Asked about the impact of the crisis and the aid measures on public finances, Bruno Le Maire assured that the economy would remain at “5% public deficit in 2023”. However, this will require “firm measures”, he warned.

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