Bank of France: 'Yellow vest' to slow down economic growth

Baku. 10 December. REPORT.AZ/ The anti-government protests convulsing France will slow growth to close to a standstill in the final quarter, the Central Bank of France said.

Report informs citing Reuters that the Bank of France on Monday forecast the euro zone’s number two economy would eke out growth of only 0.2 percent in the quarter from the previous three months, down from 0.4 percent in a previous estimate.

According to IMF's forecast, GDP is to make $2.7 trl in 2018 (against $2.5 trl in 2017). Considering by the forecast data, 0.2% of GDP made around $5.4 bn.

Heads of producing enterprises, partaking in the annual research of the state of country's economy organized by the Bank of France, say that the protests affected both supplies and retail sales resulting in a drop in financial indicators in November. Restaurants, transport companies and automobile firms announced decline in demand.

The retailers also reported losses: according to the French Federation of retail trade, the sector lost nearly €1 in revenues over street protests in Paris which erupted at the time when people are traditionally buying Christmas presents.

Protests in France started in mid-November. The participants protested the rise in fuel tax.