The so-called "yellow vest" protests in France have taken a toll on the country's economy.
And he said the impact of the protests across the country is "severe and ongoing."
The movement started in mid-November. Since then, tens of thousands of people have taken to the streets to protest rising fuel costs, the cost of living and Emmanuel Macron's presidency.
Protesters clashed with police, setting fire to cars and buildings. Law enforcement in Paris used tear gas, stun grenades and a water cannon to disperse demonstrators.
Hundreds of people have been arrested and dozens more have been injured.
Additional reporting from Newsy affiliate CNN.