France intends to support the economy by spending 100 billion euros (118 billion dollars) to confront the repercussions of the Corona pandemic.
According to CNBC Arabia, an official said that the stimulus package is equivalent to 4% of GDP, which means that France is pumping public money into the economy more than other European economies Large percentage as a percentage of GDP.
officials stated that the stimulus package is allocating 35 billion euros to increase the competitiveness of the economy, 30 billion to more green energy policies and 25 billion to support jobs.
Prime Minister Jean Castex said the recovery plan aims to protect the economy from collapse and prevent unemployment from worsening. He added that the government is seeking to create at least 160,000 job opportunities next year thanks to the plan.
The plan focuses mainly on supporting companies and is expected to last two years. But it does little to directly support consumer demand, France's traditional engine of growth, in contrast to a € 130 billion stimulus Germany launched in the spring that includes a cut in value-added tax on sales.
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