France will inject 100,000 million euros to relaunch its economy
The new stimulus program will focus on ecological transition, transformation of the industry and social and territorial cohesion
France will inject a package of 100,000 million euros in additional stimuli through subsidies, tax cuts and funds to finance environmental projects with the aim of boosting the recovery of the country’s economy and restore by 2022 the level of GDP they had before the pandemic.
The new economic stimulus program, called France Relaunch, will be focused in three main axes: ecological transition, transformation of the industry and social and territorial cohesion.
In this sense, the French economic relaunch plan contemplates injecting some 30,000 million euros in measures to promote the energy transition, including some 7,000 million destined to the energy renovation of buildings, as well as almost 5,000 million to promote the modernization of railways and another 1,200 million to improve daily mobility.
Secondly, another 35,000 million euros will be allocated to improve the competitiveness of companies and stop industrial relocation, including a reduction in taxes of about 20,000 million in two years, according to the French newspaper Les Echos. Likewise, 6,500 million will be invested in promoting the youth employment plan, 6,600 million for short-time work, 5,200 million for local communities and 6,000 million for hospitals.
“France Relaunch will be a powerful accelerator of the ecological transition”, stressed the French Prime Minister, Jean Castex, in statements to the RTL station, collected by Europa Press, where he stated that the objective of the stimulus plan “is to create 160,000 jobs of work in 2021.”
Source: dpa
