Bank of France governor talks about economic situation

International Business News – According to comprehensive French media reports, on September 9, De Gallo, the governor of the Bank of France, said in a speech that the economic growth of France and Europe will slow down significantly in 2023, and a certain degree of economic recession cannot be ruled out, but the duration will be limited and the scale will be limited. It will be “much smaller” than the heavy blow to French GDP caused by the epidemic in 2020.

De Gallo pointed out in an interview that 2023 will be a difficult year for France. He described the French economic trend with three “Rs”: “Resistance” in 2022, “Ralentissement” in 2023, and “Rebond” in 2024. He emphasized that at present, French corporate orders, public consumption and corporate investment are all good, but the main problems are supply difficulties, inflation, energy shortages and recruitment difficulties.