G-7 Finance Ministers to Hold an Emergency Discussion over the Coronavirus

World » EU | March 2, 2020, Monday // 12:08| Views: | Comments: 0
Bulgaria: G-7 Finance Ministers to Hold an Emergency Discussion over the Coronavirus www.pixabay.com

G-7 finance ministers in the euro area will hold a conference call Wednesday to "coordinate their responses" to the impact of the coronavirus on the global economy, said French Finance Minister Bruno Le Maire.

“We will have that meeting by phone—because you need to avoid travelling too much - for the G7 to coordinate its response,” Le Maire told France 2 television.

For France’s part, Le Maire said the impact from the coronavirus will be “much more significant” than the 0.1 percentage point reduction in annual growth that the French finance ministry had forecast only two weeks ago, he said, France 24 reported.

The French government expects 1.3% growth this year, while in December the national statistics agency INSEE forecasts a 0.2% growth in the first quarter of 2020.

France's GDP growth slowed to 1.2% in 2019 after the difficult fourth quarter, which saw a 0.1% fall in output amid a crippling transport strike against pension reform.

Although the coronavirus has not yet closed or delayed the business of many factories outside China, it has already affected the travel and tourism sectors. France's famous Louvre Museum, a key attraction in one of the world's most famous tourist destinations, was closed on Sunday, and one of the country's major annual trade fairs, the Paris Book Fair, to be held later this month, was canceled.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

EU » Be a reporter: Write and send your article
Tags: G-7, Finance Ministers, discussion, Coronavirus
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria