The war in Ukraine will not weigh too much on the French economy, assures the Minister Delegate in charge of Public Accounts.
The start of Emmanuel Macron’s second five-year term will be marked by good economic conditions, assures Olivier Dussopt. “We do not risk a recession in 2022“, declared the Minister Delegate in charge of Public Accounts on BFM Business this Monday morning, the day after the re-election of the outgoing president.
Despite the war in Ukraine, which weighs on prices, particularly of raw materials, and drives global inflation, “we have a significant growth overhang, the Banque de France has quantified it at +2.8%“, he underlined. In mid-April, the institution indicated that it forecast growth of 2.8% in France this year in a scenario called “degraded”, with oil, natural gas and wheat prices even higher than today, and 3.4% in the scenario called “conventional“.
“The tax receipts we are seeing month by month are slightly above our forecast, a testament to the strength of our economy“, he added, insisting moreover on the fact that the commitments of Emmanuel Macron for his second five-year term – equivalent to “fifty billion euros of expenditure” – were “funded“.