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The Governor of the Banque de France in Le Figaro: "The time has clearly come to get out of whatever the cost"

2021-06-16T19:05:25.541Z


INTERVIEW - François Villeroy de Galhau believes that recruitment difficulties are the greatest economic concern.


LE FIGARO - You expect a sharp rebound in growth this year.

On what grounds?

FRANÇOIS VILLEROY DE GALHAU

- Without having yet arrived, the French economy is accelerating on the road to emerging from the crisis.

We can see it now, with services - primarily the hotel and catering industry - which start again in May and especially June.

After the fall in 2020, French growth should reach 5.75% in 2021, more than the European average of 4.6%, and better than Germany and Italy.

Activity should return to its pre-crisis level a little earlier than expected, from the start of 2022. Household consumption and business investment, thanks to the return of their confidence, are the two drivers of this rebound.

What are your forecasts on the evolution of household savings?

The purchasing power of households was on average maintained during the crisis by public support mechanisms, which caused this strong additional “Covid savings”.

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Source: lefigaro

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