International Financial News

French government to present €100 billion recovery plan on 3rd September

26th August 2020

€40 billion will come from European recovery plan

France’s Prime Minister Jean Castex has announced that the French government will present a €100 billion recovery plan on 3rd September.

Originally expected to be revealed yesterday, the extended timeline for the plan will reportedly enable the government to prioritise the strengthening of health measures and tackle students’ return to school. It will also add to measures worth €460 billion which are already in place when it comes to public spending and loan guarantees. 

“The worst of all would be that we sink into an economic and social crisis that would be worse than the health crisis,” the Prime Minister said in an interview with France Inter radio, affirming that €40 billion would come from the European recovery plan.

Meanwhile, the recovery plan will also include €2 billion targeted toward the cultural sector, about which the Prime Minister maintained, “It means that we consider culture to be primarily an economic activity.” 

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French government to present €100 billion recovery plan on 3rd September