If you don’t exclude it, the bank of france does not make recession its “central scenario” for 2023. Its governor, François Villeroy de Galhau, said on Friday that he expects growth “probably weakly positive” for next year, after a year in 2022 where it should reach 2.6 %.
“I cannot rule out a recession, but that is not our central scenario,” added the head of the Banque de France, who is due to reveal his projections until 2025 next week.
Less inflation and more growth after 2023
In its latest estimate, the institution expected growth of between -0.5 and 0.8% of GDP in 2023, a more pessimistic estimate than that of the government, which expects growth of 1%. International benchmark forecasters, the Organization for Economic Co-operation and Development (OECD) anticipates GDP growth of 0.6% and the International Monetary Fund (IMF) expects 0.7% in 2023.
“We are approaching a tighter turn with 2023,” François Villeroy de Galhau commented on Friday.
After 2023, “we should return to a more normal course with progressively less inflation and more growth,” the governor estimated.
Source: BFM TV
