France’s economic growth rate could reach $5.5 billion in 2020, the European Commission has said, as a massive wave of migration has triggered an unprecedented wave of emigration.
The Commission’s Economic and Financial Affairs Commission said on Thursday that France’s total economic output was expected to rise by 6.7 percent in 2020 from the previous year.
This is due to the migration crisis, which is expected to reach its peak in the coming years.
The new figure will be significantly higher than the 8.1 percent rise the Commission predicted for the same period last year, according to a draft of the Commission’s latest economic forecast released on Thursday.
The rise in the economic output is due mainly to the increase in the population and the reduction in the number of jobs due to an increase in demand.
The forecast showed that France could gain around $1 billion ($1.5bn) from the influx of people and foreign investment, which has triggered a boom in construction and other industries.
France has a population of about 9 million, a third of whom are aged 65 and over.
The country has also become a magnet for foreigners, with a total of 1.2 million people, many of them foreign workers, living in France.
The population is projected to increase by 3.2 percent annually from 2020 to 2025.