Member of the board of the European Central Bank (ECB), François Villeroy de Galhau said this Friday (9) that it is not possible to exclude a “temporary” recession in France in 2023, but added that modest growth is likely.
And he also projected that, throughout the current year, the French Gross Domestic Product (GDP) will advance 2.6%.
In addition to his post at the ECB, he is president of the Central Bank of France.
“We cannot exclude a recession, but it is not our central scenario, which is probably slightly positive growth” in 2023, Villeroy de Galhau said during a radio interview. FranceInfo🇧🇷
He said that, should a recession occur, it would be “temporary and limited”, excluding the possibility of a “brutal landing” of the French economy.
Villeroy de Galhau also stated that, in 2024, the picture should be “more normal” in the country, with “progressively less inflation and more growth”.
At another point in the interview, he commented that the shock to inflation prices cannot be fully absorbed by the State, but companies have to bear this cost.
According to him, the intention of the French government is to provide more targeted aid to families that need it most to deal with this context, in line with recent statements by the European Union on the subject.
Source: CNN Brasil
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