French government’s crisis measures cost 450 billion euros
PARIS (Europe) – The government of France’s measures to aid their economy through the coronavirus crisis has cost 450 billion euros, equal to 20% of GDP, according to France’s finance minister.
Since mid-March, the French government mobilised measures like state-subsidised furloughs, state-guaranteed loans, tax deferrals and handouts to small firms.
“If we take everything that has been done with the budget and in support of businesses’ cashflows, it’s 450 billion euros, 20% of the nation’s wealth on the table.”
– Bruno Le Maire, French Finance Minister
President Emmanuel Macron is set to announce “strong measures” to support car-makers getting a sector-specific plan to help it back on its feet.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.