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French crisis measures cost 450 billion euros

Christian Fernsby ▼ | May 25, 2020
French government measures to prop up the economy through the coronavirus crisis have cost 450 billion euros, the equivalent of 20% of GDP, the finance minister said on Monday.
Bruno Le Maire
Minister   Bruno Le Maire
Since mid March, the government has mobilised a package of measures including state-subsidised furloughs, state-guaranteed loans, tax deferrals and handouts to small firms.

Topics: French

“If we take everything that has been done with the budget and in support of businesses’ cashflows, it’s 450 billion euros, 20% of the nation’s wealth on the table,” Finance Minister Bruno Le Maire said on BFM TV.

He added that President Emmanuel Macron would announce “strong measures” in support of car-makers, the latest industry to get a sector specific plan to help it back on its feet.