Pandemic destroys hopes for French economy rebound

PARIS: The French government’s deficit will deepen and public debt rise after a lingering coronavirus disease (COVID-19) crisis smashed hopes of a rapid economic rebound, Finance Minister Bruno Le Maire said on Sunday. The annual deficit, which has spiraled as President Emmanuel Macron’s government tries to prop up the struggling economy with massive spending, is now expected to reach 9 percent of the country’s gross domestic product (GDP) in 2021, he told reporters.