France heading for worst recession since World War II amid COVID-19

France is likely to see its deepest recession since the end of World War II this year because of the coronavirus crisis, Finance Minister Bruno Le Maire warned on Monday.

"The worst growth figure in France since 1945 was -2.2 percent in 2009, after the financial crisis of 2008. We will probably be very far beyond -2.2 percent this year," Le Maire said.

The government estimated last month in an emergency budget update that the economy would contract one percent this year, but has since indicated that it would have to revise that figure.

France imposed a nationwide stay-at-home order from March 17 after shuttering all non-essential businesses. Officials have said the lockdown will last until at least April 15.