France Unveils €100 Billion Stimulus Plan

The French government today unveiled details of its € 100 billion stimulus plan to address the adverse economic effects of the coronavirus crisis in two years. The program includes public investment, subsidies, and tax cuts, Reuters reported.

According to the plan, the government intends to spend, among other things, 35 billion euros to strengthen the competitiveness of the French economy, 30 billion euros to support environmentally friendly energy, and 25 billion euros to support jobs, government officials said.

The volume of the stimulus plan corresponds to four percent of gross domestic product (GDP). Thus, according to one of the government officials, France invests more public funds in the economy in relation to GDP than any other large European country.

The government of President Emanuel Macron expects the economy to return to pre-coronavirus levels by 2022, thanks to a plan. The Ministry of Finance expects GDP to fall by 11 percent this year. France is the second-largest economy in the eurozone after Germany.