Yellow vest protests are 'a catastrophe for our economy' says French finance minister
Bruno Le Maire warns of slowdown in economic growth
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Your support makes all the difference.Bruno Le Maire, the French finance minister, has said called the so-called yellow vest protests are a "catastrophe" for France's economy.
Mr Le Maire made the comments while speaking to a number of reporters as he toured an upmarket area in central Paris on Sunday.
The neighbourhood had been heavily looted during unrest on Saturday night.
"It is a catastrophe for trade, it is a catastrophe for our economy," Mr Le Maire said.
The protests have disrupted the traditional Christmas shopping season, dealing a heavy blow to France's retail sector.
"We must expect a new slowdown of economic growth at year-end due to the yellow vest protests," Mr Le Maire said, adding that the marches would have a "severe impact" on the economy.
On Saturday the anti-government protesters caused havoc in Paris where, as well as marching, some threw stones, torched cars and vandalised shops and restaurants.
Police officers turned tear gas, water cannons and rubber bullets on some of the demonstrators.
Officials said that 135 people were injured on Saturday.
Popular tourist sights such as the Eiffel Tower and the Louvre Museum did not open due to the protests.
Top Parisian department stores were also closed on what should have been a prime shopping weekend.
In mid-November experts said that the country's economy would need to grow at 0.8 per cent in the final three months of the year, to hit the government's 1.7 per cent annual growth forecast.
The "gilets jaunes" protests began as a show of anger against a raise in fuel taxes but have grown to encompass general frustration about the rising cost of living in France.
Much of the rage is aimed at President Emmanuel Macron and his style of governing.
The French leader is seen by many as out of touch with ordinary people.
Mr Macron will address the country in a speech early next week, a government spokesperson said on Sunday.
Across Paris bank branch offices, toy shops, opticians and other retail outlets were covered with graffiti, much of which attacked the French president.
"This chaos has to end," said Andre Juillard, a doctor, as he stood in line with other Parisians at a bakery near the Eiffel Tower.
"I don't know if Macron's resignation is necessary, but he must completely change course and increase wages and lower taxes," said Bertrand Cruzatier, a local who stood watching cleaners scrub out graffiti at the Place de la Republique.
Protesters had left a banner in the centre of the famous square.
Dangling from the bronze statue of Marianne, symbol of the French republic, it read: "Give back the money".
Additional reporting by agencies
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