{"id":151219,"date":"2020-09-03T22:22:48","date_gmt":"2020-09-03T22:22:48","guid":{"rendered":"https:\/\/www.bnreport.com\/french-government-lays-out-fresh-e100b-stimulus-package\/"},"modified":"2020-09-03T22:22:48","modified_gmt":"2020-09-03T22:22:48","slug":"french-government-lays-out-fresh-e100b-stimulus-package","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/french-government-lays-out-fresh-e100b-stimulus-package\/","title":{"rendered":"French government lays out fresh \u20ac100B stimulus package"},"content":{"rendered":"

PARIS \u2014 French Prime Minister Jean Castex detailed Thursday a \u20ac100 billion recovery plan<\/a> over two years to help the countrys economy bounce back from coronavirus-induced recession.<\/p>\n

It is \u201cthe amount needed \u2026 to go back to our pre-crisis level of wealth by 2022,\u201d Castex said, as he touted \u201cthe most massive recovery plan among European countries in proportion to national wealth.\u201d<\/p>\n

The prime minister, who presented the plan alongside Economy Minister Bruno Le Maire, Environment Minister Barbara Pompili, Labor Minister Elisabeth Borne and Secretary of State for EU Affairs Cl\u00e9ment Beaune, said the fresh injection of cash was needed to avoid long-term damage to the economy and the country.<\/p>\n

\u201cIt is preferable to temporarily downgrade public finances rather than sinking into austerity and let unemployment, misery and human drama explode,\u201d Castex said, hinting at continued impact on the countrys debt, although he said that wouldnt be felt after 2025. The EU already lifted<\/a> its usual fiscal rules to allow countries to support their economy.<\/p>\n

The new package of \u20ac100 billion is in addition to \u20ac470 billion in public spending and loan guarantees that have already been injected into the economy since the coronavirus crisis hit.<\/p>\n

The plan includes three pillars: greening the economy (\u20ac30 billion), promoting economic sovereignty and relocating businesses to France (\u20ac34 billion) and funding \u201csolidarity and skills\u201d through social expenses Read More \u2013 Source<\/a><\/p>\n

[contf] [contfnew] <\/p>\n

politico<\/a><\/h5>\n

[contfnewc] [contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

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