France promises billions as virus crisis sinks economy
€45bn worth of measures will be pumped into the economy to help companies and workers, which is likely to push national debt over 100% of GDP
17 March 2020 - 17:38
Paris — France will pump €45bn worth of crisis measures into the economy to help companies and workers, with output expected to contract 1% this year due to the coronavirus pandemic, the finance minister said on Tuesday.
Bruno Le Maire said the package — worth nearly 2% of GDP — will inevitably weigh on the public finances and push the national debt to more than 100% of GDP. “We are going to mobilise €45bn as our first immediate economic assistance to companies and workers,” Le Maire told French RTL radio...
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