Monday , May 17 2021

Macron to fine-tune stimulus 6 months before French polls

Bloomberg

French President Emmanuel Macron will reassess the country’s recovery plan in September, possibly adding to the 100 billion euros ($120 billion) of stimulus his government is already injecting into the economy.
Such a boost would arrive just six months before presidential elections, where management of the health crisis and the growth rebound are set to be key battlegrounds. Before any decision, the government will first consult with local political leaders over the summer, Finance Minister Bruno Le Maire said on Monday.
“We will see at that point if it is useful or not for the country — and that is the only gauge — to add money to the recovery fund,” Le Maire said on French radio RTL.
France was one of the quickest European countries to resort to investment and tax cuts that go beyond the initial crisis support for firms and households. While other states are waiting for European Union cash later this summer, the French government plans to use that financing to cover what it has already disbursed since September 2020.
French officials have repeatedly criticised the region in recent months for moving too slowly to rebuild the economy at a time the US is streaking ahead. At a European summit in March, Macron warned the bloc must learn from the crisis, simplify its procedures and go “faster and stronger.”
The president has still come under fire from opposition parties at home for not doing enough to support households and fuel demand with his recovery plan.
Le Maire said the quick deployment of the national plan, with about a third of the 100 billion euros already spent,
has helped France avoid the economic contraction seen in other major European economies this year. His ministry will phase out crisis support for businesses only gradually as it strives to drive economic growth to 5 percent this year.
“Every day I’m battling to make sure the recovery is working well and we will meet this target of 5% growth in 2021,” Le Maire said.

France to extend
Covid-19 vaccination to
all adults from June 15

France will allow all adults to get vaccinated against the coronavirus from June 15, President Emmanuel Macron says in a tweet.
Starting this weekend, all “vulnerable” adults, and from May 15, all those above 50, will be entitled to get vaccination.
The President has pledged that all willing adults would get vaccinated by the end of the summer. While the government has been criticised for a slow start in the vaccination campaign, it’s now picking up. Around 22% of the French have received at least one jab, and close to 10% have received two doses.
On average, 393,672 doses are handed over each day, with a peak close to 550,000 shots. At this pace, it will take another 6 months to cover 75% of the population, according to Bloomberg Covid Tracker.

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