PARIS, September 1. /TASS/. The immediate and complete termination of Russian gas supplies to France can result in contraction of France’s economic growth by 0.5 percentage point (pp), Economy Minister Bruno Le Maire said in an interview with Les Echos newspaper.
"We are calculating the growth level for 2023 during preparation of the bill on finance, taking into account all risks on energy markets. Let’s put it frankly: if Russia tomorrow completely halts gas export to Europe, this will result in a shock, at least by 0.5 pp for French economic growth," the Minister said.
"No structural decline of inflation will be by 2023," Le Maire said, without giving a detailed inflation level forecast. "Our policy is to level up its consequences over time," he added.
Gazprom completely suspended gas deliveries under the contract to France’s Engie due to non-payment for July supplies, the company said earlier.