The head of France's central bank has said he expects the French economy to recover from the pandemic slump by the middle of 2022. The bank is expecting the economy to grow by 5.5 percent this year, after a slump of more than 8 percent in 2020. The April lockdown is also having a limited effect on economic activity, according to the bank's latest report. Meanwhile, French industry is suffering from shortages of key materials such as semiconductor chips, wood and metals, which may cause consumer prices to rise.
French President Emmanuel Macron has extended lockdown measures across the country for the next month, in an effort to curb the spread of Covid-19. The restrictions will see over 150,000 businesses shuttered, at a cost of €11 billion. Also in the show: we look at the state of America's crumbling infrastructure, and Deliveroo shares fall flat in the company's stock market debut.
“The economy will recover and as it recovers from the effect of the pandemic, I do see a period of some growth,” Toyin Adeniji, Executive Director of the BOI said in a chat with GuardianTV. She said the country has had time to “build some business-friendly policies” that will make Micro Small and Medium Enterprise (MSME) cluster.
Joe Biden is inheriting a weakened American economy, battered by the coronavirus pandemic. Unemployment remains high, and the latest jobs figures show that the recovery could have stalled. Ahead of the inauguration, we look at the details of the incoming president's rescue plan for the US economy and his broader economic platform. Also today, we tell you why Janet Yellen has given hope to many European leaders that a compromise could be found on changing the rules for taxing digital giants.