Natixis - France: An unprecedented 2021 budget clouded in uncertainty

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Natixis

Arno FONTAINE

France: An unprecedented 2021 budget clouded in uncertainty

On Monday 28 September, the French government presented its budget for 2021. It comes after the announcement of the recovery plan by the prime minister on Thursday 3 September, which we looked at here a few weeks ago. The budget revises the budget framework for this year and announces the one for next year. It is based on a scenario in which GDP falls by 10% in 2020 before rebounding by 8% in 2021. Meanwhile, the public health situation in France continues to deteriorate and much uncertainty overhangs the economic environment, which may affect in particular companies’ strategies in terms of both hiring and investment .

28/09/2020 4 EN

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Analysts

Arno FONTAINE

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France: An unprecedented 2021 budget clouded in uncertainty

Long Bono 01/41 vs. Short Bund 05/41

Overview of the Asian covered bond market

Consolidation after the euphoria?

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