Pierre Hudry

France’s Economic Environment for 2021

Pierre Hudry, Jake Seward

Recorded in January 2021, this discussion with Goldman Sachs executives forecasts a French GDP contraction of 8.5% to 9.2% for 2021, projecting a return to 2019 levels by 2022 contingent on pandemic management and supported by $130 billion in state-guaranteed loans. The dialogue details sector-specific resilience, noting that small businesses and the tech industry secured significant government aid while corporate M&A activity rose 8% despite lingering challenges in travel and hospitality. Additionally, the event highlights Goldman Sachs's strategic expansion in Paris, including a headcount doubling and a new office relocation in 2022 to serve as a hub for continental European clients and emerging IPO markets.