French trade deficit represents “black mark” over French economy -Le Maire
© Reuters. FILE PHOTO: French Economy and Finance Minister Bruno Le Maire speaks during a joint news conference with German Economy and Climate Minister Robert Habeck (not seen) at the Bercy Ministry in Paris, France, February 7, 2022. REUTERS/Sarah Meyssonnier
(Corrects to remove earlier erroneous mention of state deficit)
PARIS (Reuters) -France’s large trade deficit represents a “black mark” over the French economy, the country’s finance minister Bruno Le Maire told France Inter radio on Tuesday.
France reported on Tuesday a negative trade balance of 84.7 billion euros ($96.6 billion) for 2021, versus 64.7 billion a year earlier.
Le Maire added it was urgent to rebalance and improve the position of France’s public finances, with President Emmanuel Macron set to face a national election in April.
Last month, France posted its strongest growth in over five decades last year, hitting 7% as the euro zone’s second-biggest economy bounced back from the COVID-19 crisis faster than expected.
Despite a resurgence of the COVID virus in France, the strongest boom in a generation has bolstered Macron’s economic credentials less than three months from an April election in which he is widely expected to run for a second term.
($1 = 0.8771 euros)