And three. To cope with the recession, the government is presenting this Wednesday in the Council of Ministers a third crisis budget with an envelope of 45 billion euros additional to support the sectors affected by the crisis.
"It corresponds to the second phase of the response to the crisis," explained Bruno Le Maire, the Minister of Economy on RTL.
After the more than 400 billion euros of emergency measures taken in the two previous budgets, this new rectified budget will increase public support in total to "460 billion euros," said the minister.
Tourism, automotive, aeronautics…
This budget includes the 18 billion euros of the aid plan for the tourism sector, one of the most affected by the containment with travel restrictions and the closure which continues in part for cafes and restaurants, the 8 billion euros of the automobile plan announced at the end of May, the 600 million for French Tech unveiled the week or the 15 billion euros of support for the aeronautical sector and aid for the book sector. In addition, measures in favor of small trade and construction.
VIDEO. The State will inject 15 billion to save the French aeronautical industry
At the same time, while bankruptcies and layoffs are looming, the government will reinforce the short-time working scheme by around 5 billion euros and will release 1 billion to widen aid to companies that hire an apprentice.
He also plans to validate support of 4.5 billion euros from the state for communities when their spending has increased to deal with the epidemic.
The dangers of the debt explosion
These support measures are far from unanimous. Certain sectors such as agriculture or public transport consider themselves neglected. The environmental NGO Greenpeace regretted the lack of investment in the rail sector, which however emits less greenhouse gases.
“It pays me” newsletter
The newsletter that improves your purchasing powerI'm registering
Your email address is collected by Le Parisien to allow you to receive our news and commercial offers. Find out more
In addition, the equation for the government will be seriously complicated as it forecasts an 11% drop in GDP in 2020. According to forecasts, tax revenues which will melt by 27 billion more compared to the estimate already down from the previous adjusted budget. So much so that the deficit should reach 11.4% of GDP with an estimated public debt of 120.9% of GDP.
And despite the injunctions to ask the French to consume and return to work to revive the economic machine, some will probably prefer to keep their savings to cope with the uncertainty to come.