The French authorities will present a stimulus plan to accelerate the economy's recovery in the wake of the COVID-19 crisis, Economy Minister Bruno Le Maire said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 04th June, 2020) The French authorities will present a stimulus plan to accelerate the economy's recovery in the wake of the COVID-19 crisis, Economy Minister Bruno Le Maire said on Thursday.
"[The recovery plan] should be announced in a few weeks and be effective at the beginning of September," Le Maire said during the joint press conference with German Economy Minister Peter Altmaier.
Earlier this week, Le Maire had announced that the French economy was expected to contract by 11 percent in 2020 due to the COVID-19 outbreak, which has put the country in a two-month lockdown since mid-March.
Meanwhile, the French government has already announced separate support plans for the car and tourism industries, while rescue measures for the aviation sector, construction industry and start-ups are due to be unveiled in the coming weeks.
France began gradually lifting its lockdown restrictions on May 11. The second stage began on June 2 by the further reopening of non-essential stores, various facilities and public places in less infected, or green, regions of the country. Red regions, where the virus is still active, remain under strict monitoring.
As of Thursday, France reported nearly 189,000 COVID-19 infections, the world's ninth-highest total, and over 29,000 related fatalities.
