No risk of recession in 2022, according to Olivier Dussopt

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“.

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