France's coronavirus recovery plan includes $51 billion economic stimulus package

French Finance Minister Bru Le Maire has anunced that he will propose a stimulus pack of $51 million to boost country’s plunging ecomy due to coronavirus outbreak. In an interview with French rio on June 9, France’s Finance Minister assured that government “will t let anyone down” and ted “hundreds of thousands” of people can lose ir jobs due to ecomic fallout from COVID-19 pandemic. Moreover, minister has predicted a “wave of bankruptcies” and plunge in French ecomy could last up to 2021.

As country slowly lists restrictions and life is moving to rmalcy, Le Maire said in same interview that government has “everything” that is needed to recover from impacts of unprecedented outbreak of dely coronavirus. French Finance Minister has showcased confidence in resources of country including manpower and techlogy to benefit from stimulus pack and furr boost ecomy in post-corona era. 

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To help more vulnerable sectors

Le Maire said on June 9 that he would be tabling at least 45 billion euros on June 10 for second st of rescuing vulnerable sectors of country including hospitality, food chains, automobile and aeronautics industries. In totality, according to reports, he has revealed that France would be investing at least $521 billion in recovery measures that sums up to be 21 per cent of country’s national wealth. Le Maire said that. “To put it in perspective, it is equivalent of Austria’s GDP”. 

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French Finance Minister has claimed that re would t be any tax increase during remaining term of French President Emmanuel Macron in a bid to motivate people towards more spending and he also ted that national debt would hike to 121 per cent of country’s GDP in 2021. Le Maire would present plan for recovery along with Public Account Minister Gerald Darmanin after weekly cabinet meeting on June 10.

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