PARIS (AP) â€” 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.
â€śOur estimation is that the impact on Chinese growth will be of the order of 1 (percentage) point for the year. Thatâ€™s to say, an important number,â€ť the minister said Thursday.
â€śIf it lasts, persists or if the epidemic is amplified, of course the impact will be greater.â€ť
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.
â€śThis virus obviously will have an impact, a real impact,â€ť he said.