
Fernando de Querol Cumbrera
Research expert covering construction, loans, leasing, savings, and debt
Get in touch with us nowThe number of business failures in 2024 was much higher than in the previous years. In 2023, just ****** businesses were unable to meet their financial obligations, such as paying salaries or suppliers. Moreover, there was a low number of bankruptcies in 2020.
That contrasts a lot with the evolution of the GDP in France, which fell by roughly than ***** percent in 2020. The French state played an essential role in preventing the bankruptcy of many companies. As early as March 2020, short-time working was implemented, as well as tax exemptions or loans guaranteed by the state. This guaranteed loan allowed companies to pay their suppliers and thus avoid a domino effect of payment defaults and company closures.
As a consequence of those and other measures implemented by the French government, it was possible to avoid an increase in business closures and steep rises in the unemployment figures. In fact, the unemployment rate in 2020 was somewhat lower than in the previous year. However, putting in place those measures to protect the French economy was not cheap. That caused the French national debt to GDP ratio to rise sharply between 2019 and 2020, from approximately ** percent to nearly *** percent of France's GDP.
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* For commercial use only
Basic Account
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The statistic on this page is a Premium Statistic and is included in this account.
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.