May 12, 2020 / 6:28 AM / 25 days ago

French lockdown cost economy 6% of annual growth - central banker

FILE PHOTO: European Central Bank policymaker Francois Villeroy de Galhau, who is also governor of the French central bank, attends the Paris Europlace International Financial Forum in Tokyo, Japan, November 19, 2018. REUTERS/Toru Hanai

PARIS (Reuters) - France’s coronavirus lockdown cost the economy nearly 6% of annual growth, central bank head Francois Villeroy de Galhau said on Tuesday.

France began unwinding its strict lockdown on Monday, allowing non-essential shops, factories and other businesses to reopen for the first time in eight weeks.

“These two months cost us 6% of annual growth in losses on annual growth,” Villeroy said on France Inter radio. “The loss over the whole of the year will be even higher because as things recover activity will be partial.”

Reporting by Leigh Thomas; Editing by Andrew Heavens

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