French president Emmanuel Macron has unveiled his stimulus plan for France’s economy, amounting to EUR 100 billion. The plan includes, for example, wage subsidies, tax reductions for companies and financing for environmental projects and green technology.
The money is mainly intended to stimulate the economy in the longer term and also to help it get out of the corona crisis. Macron hopes to transform the economy and reduce unemployment with these plans in the run-up to the presidential elections in April 2022.
Investments include retraining people who are unemployed and bonuses for businesses if they hire young people. In addition, funds will be made available for cleaner forms of transport, especially on the railways, and renovations to make buildings more energy-efficient. For example, money is also earmarked for energy projects using hydrogen.
The French government believes that the stimulation plan will bring the economy back to 2019 by 2022. This year, it is expected that there will be a contraction of around 11% due to the coronavirus and the strict lockdown measures against the outbreak.