Global growth may take 1 percentage point hit from virus: French official
PARIS — France’s government calculates that the deadly virus outbreak in China will shave at least 1 percentage point off the growth this year of the world’s second largest economy, hurting global economic growth too.
The French economy minister, Bruno Le Maire, told broadcaster BFM-TV that the impact on global growth will be greater this time than during the SARS epidemic in 2003, because China’s economy is a far larger component of the world economy than it was then. “Our estimation is that the impact on Chinese growth will be of the order of 1 point for the year. That’s to say, an important number,” the minister said Thursday.Le Maire said that knock-on impacts will be considerable too, projecting that global economic growth will be reduced by at least 0.2 of a percentage point for 2020 and that French growth will suffer a 0.1 percentage-point hit.
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