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France’s Economy Sees Record 13.8% GDP Plunge in Second Quarter Amid COVID-19 Crisis

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MOSCOW (Sputnik) – France’s GDP plunged by 13.8 percent in April-June of 2020, which marks the country’s economy continuous recession attributed to the... 31.07.2020, Sputnik International

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France’s Economy Sees Record 13.8% GDP Plunge in Second Quarter Amid COVID-19 Crisis

08:47 GMT 31.07.2020 (Updated: 13:54 GMT 06.08.2022)

© AP Photo / Christophe EnaIn this Tuesday, June 23, 2020 file photo, the pyramid of the Louvre museum is pictured before a visit ahead of its reopening next July 6, in Paris. The European Union announced Tuesday, June 30, 2020 that it will reopen its borders to travelers from 14 countries, but most Americans have been refused entry for at least another two weeks due to soaring coronavirus infections in the U.S.

In this Tuesday, June 23, 2020 file photo, the pyramid of the Louvre museum is pictured before a visit ahead of its reopening next July 6, in Paris. The European Union announced Tuesday, June 30, 2020 that it will reopen its borders to travelers from 14 countries, but most Americans have been refused entry for at least another two weeks due to soaring coronavirus infections in the U.S. - Sputnik International

MOSCOW (Sputnik) – France’s GDP plunged by 13.8 percent in April-June of 2020, which marks the country’s economy continuous recession attributed to the coronavirus outbreak and related health crisis, the INSEE statistics agency reported on Friday.

"In Q2 2020, GDP in volume terms declined: –13.8 percent, after –5.9 percent in Q1 2020. It is 19 percent lower than in Q2 2019," the report read.

The COVID-19 related lockdown had been introduced in France in mid-March and lasted until May.

The INSEE said that stepwise lifting of restrictions has contributed to gradual economic recovery in May and June and better figures then previously estimated.