Olympics will benefit French economy: Central Bank

France Central to Bank said on Friday that the economy of the country Paris Olympics 2024 And Paralympics There will be a lot of benefit from sports.

The Bank of France said it expected the French economy to expand by around 0.5% in the July-September quarter, after a 0.3% increase in the second quarter.

The Olympic Games officially started in the last week of July and the Paralympic Games will end in September.

France’s central bank has pegged the growth rate at 0.25 percent due to sports.

This prediction of the Central Bank of France is according to the data of the French statistical agency INSEE.

INSEE expects sports to add up to 0.3 percentage points to third-quarter growth, bringing overall growth to 0.5 percent in the current quarter.

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Ahead of the world’s biggest sporting event, the Olympics, there was concern in France that the Games could become a burden on the French economy as many tourists who normally visit Paris were staying away.

Air France and several hotel management said they had seen a drop in bookings ahead of the Olympics.

However, the Banque de France says there is still a lot of uncertainty about its forecast and the positive impact of the games in an uncertain political environment after no clear winner emerges in parliamentary elections in June and July. are experiencing negative effects from

According to the bank, this financial gain from sports may be temporary.

The central bank’s chief economist, Olivier Garnier, told reporters that the financial gain would “mostly disappear by the fourth quarter.”