PARIS, Sept. 2 (Xinhua) -- Heatwaves and drought in France are expected to shave 0.1 percentage point off France's gross domestic product (GDP) growth in 2026 due to lower agricultural production, France's Ministry of Economy and Finance said Wednesday.
The estimate was presented by the French Treasury within the ministry during a hearing at the National Assembly on Wednesday as part of an information mission examining the economic cost of heatwaves.
According to preliminary data, the 2026 heatwaves and drought "have considerably affected certain agricultural production," particularly corn, with output expected to fall by 35 percent in 2026 from 2025, the ministry said.
The impact of heatwaves on agriculture has been compounded by the conflict in the Middle East, which has affected the agricultural sector through higher gas prices that have increased the cost of nitrogen fertilizers, as well as disruptions to global fertilizer trade, the ministry said.
Meanwhile, France's GDP growth was revised down to zero quarter-on- quarter in the second quarter of 2026, from a preliminary estimate of 0.2-percent growth, according to revised data released last Friday by France's National Institute of Statistics and Economic Studies (INSEE).
INSEE said the revision reflected a further deterioration in agricultural production, compared with the information available at the end of July.
At a crisis meeting devoted to drought on Aug. 12, French Minister for Ecological Transition Monique Barbut said this summer's heatwaves could cost the French economy between 10 billion and 15 billion euros (11.6 billion to 17.5 billion U.S. dollars). ■
