Growth in France reached 7% in 2021, a rebound that “wipes out the economic crisis”, according to Bruno Le Maire
There France archives (almost) completely the black year of Covid: according to a first estimate published Friday 28 January by the National Institute of Statistics and Economic Studies (Insee), reported by Le Mondethe growth of the GDPthe gross domestic product, French reached the 7% In the 2021, a leap that had not occurred for fifty-two years, but that comes after the record recession of 2020 (-8%).
With a fourth quarter of 2021 which recorded growth of 0.7%, the French economy “now clearly exceeds” its level before the health crisis, Insee points out. A “spectacular rebound” that “cancels the economic crisis”, commented the Minister of Economy Bruno Le Maire. “The French economy is running at full capacity and has a strong capacity to react”, he assured. “There are sectors that continue to have difficulties: tourism, events and hotels,” he detailed Bruno Le Maire. We support them, but the overwhelming majority of French sectors are restarting strongly “, she concluded.
“There performance of the French economy thus exceeds the forecasts of the Inseee of the Banque de France, which predicted growth of 6.7% for 2021. This derives in particular from an upward revision of 0.1 point of growth in GDP during each of the first three quarters of the year, Insee details, “he explains Le Monde.
“However, continue Le Mondethroughout 2021, the GDP remains “1.6% below the 2019 average“, adds the institute, a sign that 2021 does not entirely mark a return to normal for the economy, having once again been the first part of the year characterized by important health restrictions linked to the Covid-19 epidemic”. “In 2021, growth was driven in particular by the strong increase in the production of goods and services (+ 7.4%, after -8.5% in 2020), although the production of goods “remains significantly down” compared to its average level in 2019.
“THE household consumption, penalized in the first half of the year by health restrictions, only returned to pre-crisis levels at the end of the year, registering an overall increase of 4.8% in 2021 (-7.2% in 2020). But in 2021 as a whole, it remains below the average level for 2019 “, he stresses again Le Monde.
“The household investments, of businesses and local authoritieshe concludes Le Monderebounding by 11.6%, have largely exceeded the level of 2019. Finally, foreign trade contributed slightly to the growth, even if, on average, annual report, “exports and imports remain in 2021 at a particularly degraded level , respectively 8.5% and 5.5% below the average level of 2019 “.
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