Baca berita tanpa iklan. Gabung Kompas.com+
September 3, 2020, 11.07 PM

PARIS, KOMPAS.com – France’s economic stimulus plan includes spending €100 billion to pull the EU country out of a deep coronavirus-induced slump.

The stimulus plan signals renewed efforts by French President Emmanuel Macron to push through a pro-business reform agenda.

An official stated that France’s economic stimulus equates to 4 percent of the country’s GDP.

It means that France is plowing more public cash into its economy than any other big European country as a percentage of GDP. A formal launch is expected on Thursday.

Read also: Lockdowns Battered The Eurozone Economy in Q2

France's recession, marked by a 13.8 percent second-quarter GDP contraction that coincided with the country's Covid-19 lockdown and is set to generate an 11 percent drop in 2020 as a whole, has also been one of Europe's deepest.

The stimulus package earmarks €35 billion to make the economy more competitive, €30 billion for more environmentally friendly energy policies and €25 billion for supporting jobs, officials said.

"This recovery plan aims to keep our economy from collapsing and unemployment exploding," Prime Minister Jean Castex said on RTL radio.

Read also: Ranks of Jobless Expected to Swell to 11 Million in Indonesia

He said the government aimed to create at least 160,000 jobs next year thanks to the plan.

Page:


Recommendation
Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Report
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

News
April 14, 2023, 12.38 PM

Indonesia Detects New Covid Arcturus Variant

Baca berita tanpa iklan. Gabung Kompas.com+
Baca berita tanpa iklan. Gabung Kompas.com+

MOST POPULAR

Baca berita tanpa iklan. Gabung Kompas.com+
Baca berita tanpa iklan. Gabung Kompas.com+
Close Ads
Oke