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Key figures of the plan to support the French economy

2020-04-05T12:48:28.990Z


300 billion loan guarantees, 5 million partially unemployed workers ... Here are the key figures of the plan to preserve the economy of covid-19.


Arising immediately from the health situation and containment, the current economic crisis has put a stop to more than a third of French economic activity and could cost the country three points of GDP per month, or around 70 billion euros. . To try to preserve the economic fabric and employment, it is a support plan without common measure in the recent economic history which was urgently set up by the government. Le Figaro takes stock of the big figures of this " massive, powerful and unprecedented " plan, as Minister of Labor Muriel Pénicaud said on Saturday.

Read also: LIVE - Coronavirus: in Spain, the number of deaths continues to drop

  • 45 billion

This is the total amount of the " economic emergency plan " announced in mid-March by Bruno Le Maire. On this envelope, it takes 8.5 billion to finance partial unemployment, even if the Senate and Bruno Le Maire himself estimate that this envelope could climb well beyond this amount initially planned. There is also a solidarity fund for very small businesses of one billion euros per month which will be used to finance envelopes of up to 3,500 euros for companies with less than ten employees whose activity has been impacted by the epidemic.

Finally, still in dry spending, an increase of the National Objective of health insurance spending (Ondam) of 2 billion euros is planned to pay for sick leave, the purchase of masks and support for nursing staff ( 2 billion euros). As for treasury measures, the deferral of taxes and contributions will represent an effort of 35 billion to the State. This deferral of charges could however have no impact on public finances in the event of reimbursement before the end of the year.

  • 450,000

This is the number of small businesses that had already applied for the solidarity fund on April 3, according to the Minister of the Economy. "The fund will be replenished as much as necessary," said Bruno Le Maire in an interview with the JDD this Sunday, April 5.

Read also: The State strengthens its business assistance plan

  • 300 billion euros

This is the amount of the state guarantee on corporate bank loans. "This massive and unprecedented instrument will allow all these companies to meet their cash needs in the difficult circumstances of the coming months," promised Bruno Le Maire. In detail, all companies can claim it, with the exception of civil property companies and financial institutions. The loan will be covered by the State for up to three months of turnover and no repayment will be required in the first year. "Companies that do not show restraint in paying dividends or fail to meet payment deadlines by not paying their suppliers will risk being denied access to the state guarantee" , however, warned Bruno Le Maire.

Again, this is not a dry expense for the state. " This will cost us dearly only for the very small percentage of companies that will not be able to repay their installments, " reminds Le Figaro the contemporary economic historian Frédéric Tristram.

  • 3 points of GDP

This is what the pandemic would cost the French economy each month, according to an INSEE report published on Thursday March 26. Or about 70 billion euros per month. A colossal sum, which makes Frédéric Tristram say that the French debt "could reach 130% of the GDP in the years to come" .

  • - 35%

In the same INSEE report, we learn that the French economy was running at March 26 at 65% of its full potential. A loss of activity of 35%, therefore. In detail, construction (-86%), market services (-36%) and non-food industry (- 52%) were the most affected. Agriculture and the food industry (-4%) logically resist better.

Read also: Dividends: Bruno Le Maire calls on companies to show responsibility

  • 5 millions

This is the number of French employees who were on partial unemployment this Friday, April 3, according to the Minister of Labor Muriel Pénicaud. These 5 million employees are spread across 470,000 companies. " Five million employees, it is one employee in four, in business and association, said the minister on BFMTV this Saturday, April 4. This testifies to the fact that we have set up a powerful, massive system that has never been done in France, a system that will save millions of jobs. The Minister added that fraudulent companies which make their employees work despite partial unemployment will be checked a posteriori, and punished.

  • € 65 million

It is the envelope released urgently to come to the aid of the homeless, as announced by the government this Saturday, April 4. In detail, this envelope makes it possible to finance 60,000 service vouchers to buy food and hygiene products, as well as 7,800 hotel spaces throughout the country, which are in addition to the 164,000 already available.

See also - Coronavirus: is the government really doing enough against unemployment and for businesses?

Source: lefigaro

All news articles on 2020-04-05

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