French economy to bounce back: Central bank

Gulf Today Report 

Bank of France governor on Tuesday assured the rebound of the country’s economy from a deep recession due to COVID-19.

Francois Villeroy de Galhu said growth will reach at least five per cent in 2021.

"The recession is behind us, French growth "will be among the strongest in Europe, clearly above the European average," he said. 

READ MORE 

Gold prices bounce back as US yields declines

Oil prices gain on optimistic economic recovery

ADQ to merge its healthcare support services entities

He added that the current growth phase will last for about one year, giving room for the French economy to rebound to its pre-crisis levels by spring or summer of 2022.

French GDP dropped by 8.3 per cent in 2020, according to national statistics bureau Insee.

‏