Corona support in France bigger: deficit of €220 billion expected | Financial

According to him, the higher deficit is related to the ongoing support measures for the French economy against the corona crisis. France has had to borrow a lot of money for wage support schemes and aid to companies in the corona pandemic. Dussopt said in April that the crisis could cost the French government almost 500 billion euros over a period of three years.

deficit

It is not yet clear how high the French budget deficit will be as a percentage of gross domestic product. It was previously thought that the deficit could hit 9 percent this year, which would be the highest level since World War II.

Other European countries are also suffering financially from the impact of the pandemic. The budget deficit in Germany last year rose to the highest level since unification more than thirty years ago.

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