President Emmanuel Macron on Wednesday ordered France into its third nationwide lockdown and mentioned colleges would shut for 3 weeks as he sought to push again a 3rd wave of Covid-19 infections.

Reuters | , Paris

PUBLISHED ON APR 02, 2021 01:36 PM IST

New Covid-19 restrictions in France will impression financial progress this yr however it’s too early to say by how a lot, Finance Minister Bruno Le Maire mentioned on Friday.

President Emmanuel Macron on Wednesday ordered France into its third nationwide lockdown and mentioned colleges would shut for 3 weeks as he sought to push again a 3rd wave of Covid-19 infections that threatens to overwhelm hospitals.

“These measures will impact economic growth in 2021. We are in the process of assessing it. There will be a new evalutaion in the coming days”, Le Maire informed CNews tv when requested if he was sticking to the federal government’s financial progress goal for this yr. It has forecast progress of 6% for 2021.

Le Maire reiterated that the brand new lockdown measures would drive the momentary closure of 150,000 companies at a value of 11 billion euros monthly.

Bank of France Governor Francois Villeroy de Galhau mentioned on Thursday he didn’t count on the brand new restrictions to have an effect on the financial institution’s forecast of 5.5% progress in 2021, supplied the restrictions don’t final past early May.

France reported greater than 50,000 new Covid-19 infections on Thursday and 308 deaths, whereas the variety of individuals in intensive care models rose to five,109.

Le Maire repeated his requires the European Union to speed up the implementation of its financial stimulus plan.

“Europe must understand that we must move fast and that the stimulus funds promised to European citizen must now arrive in member states… In 2022 or 2023 it will be too late. The Chinese and the Americans will be ahead of us,” he mentioned.

Though the 27-nation bloc agreed the landmark stimulus fund final summer time, EU governments are nonetheless submitting detailed plans on how they intention to spend cash from the fund, which many nonetheless must ratify.

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