Economic Recovery: According to the Bank of France, “Tarn-et-Garonne companies were able to stay dynamic.”

Industry, services and construction experienced a revival of sectoral activity in 2021. The 2022 forecast is also promising, as explained by Michel Brogi, director of the Bank of France.

Michel Brogi, director of the Bank of France in Tarn-et-Gallonne, who has been in office since June 2021, has created a positive assessment of the sector’s economic situation in 2021 and made some promising forecasts for 2022. is showing.

What about Tarn-et-Gallonne after a two-year economic crisis?

The French economy experienced sustained growth of 7% in 2021 and returned to pre-crisis levels later this year. This dynamics is also reflected in Occitania, despite the difficulties experienced by the aviation and tourism sector. Tarn-et-Garonne is doing well and the financial health of companies with sales of over € 750,000 is good. Their financial structure allowed them to turn their backs and resist. The recovery actually became noticeable in 2021 and, along with Averon, Turn and even Gers, made this faculty one of the best students in the Occitanie region.

How is this converted into a business?

The industry and services sector has experienced a turnaround in activities that should continue until 2022. The purchase order is a bit smaller in the construction industry, but above the 2020 average and progressing in the industry. When it comes to hiring, half of Tarn-et-Garonne companies have a hard time hiring, regardless of the required qualifications. All sectors are involved. Temporary work remained a coordinating variable, especially in the industrial sector.

Dynamism that influences business creation?

Business creation in 2021 has increased by 22% compared to 2020 in the sector. Specifically, it represents the new structure of 664, more than half of which is used for services. Therefore, Tarn-et-Garonne has 7,193 companies, including 1,242 construction companies, 1,931 trade companies, 622 industries, and 3,398 service companies, excluding automobile entrepreneurs.

And on the side of failure?

They have declined significantly in 2021 with 75 bankruptcies (compared to 169 in 2019), primarily in services, trade and construction. This proves the good financial condition of the sector.

How about corporate bonds?

Net debt did not increase, thanks to state-guaranteed loans. In this division, 2,470 companies have acquired a total of € 344 million in PGE. Redemption capacity has increased, but remains good. It is estimated that 3% of these loans cannot be repaid. Most companies offset their debt with cash. Therefore, this adjustment allowed for an investment that increased by nearly 12%. It represents a powerful engine that supports activity.

How is 2022 shaped?

After catching up, business leaders expect 2022 growth to be modest, but still relatively confident. Taking into account current difficulties, all sectors expect adoption in 2022. Investment in the industrial sector should increase even more significantly. Companies expect a continuous improvement in profitability.

On the household side, consumption is picking up

At Tarn-et-Garonne, the median annual standard of living for 259,128 inhabitants is € 20,000. In terms of financial debt, this sector is in Occitanie’s top five, with an average household bank debt of € 31,869. Good sign for Michelle Brogi: “Consumer debt has spread to many households, reaching the real estate level of the first buyer who applied for a loan. This is a sign of dynamism.” But the health crisis is overkill. The debt has not been resumed.