The war in Ukraine is degrading the security of France, faced with the rebirth of an existential threat to its population and its territory, but also to the environment of its economy.
Beyond a cyclical air pocket, it leads to a change in the growth regime.
It is placed under the sign of stagflation, the bursting of globalization into blocks, the role of the State in dealing with the risks of supply disruptions in the fields of energy, raw materials or 'food.
The French economy is caught in the rear.
Continuing the historic recovery of 7% in 2021, the government was counting on growth of 4% in 2022. However, the increase in activity was zero during the first quarter.
At the same time, inflation soared to stand at 5.4% and 7% outside the shield that caps the rise in energy prices.
It could peak around 10% at the end of the year, spreading to all sectors...
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