KONTAN.CO.ID - PARIS. France plans to spend 100 billion euros ($118 billion) to pull its economy out of a deep coronavirus-induced slump, signalling renewed efforts by President Emmanuel Macron to push through a pro-business reform agenda. The stimulus equates to 4% of gross domestic product, meaning France is ploughing more public cash into its economy than any other big European country as a percentage of GDP, an official said ahead of its formal launch later on Thursday. France's recession, marked by a 13.8% second quarter GDP contraction that coincided with the country's COVID-19 lockdown and is set to generate an 11% drop in 2020 as a whole, has also been one of Europe's deepest.
France unleashes 100 billion euro stimulus to revive economy
KONTAN.CO.ID - PARIS. France plans to spend 100 billion euros ($118 billion) to pull its economy out of a deep coronavirus-induced slump, signalling renewed efforts by President Emmanuel Macron to push through a pro-business reform agenda. The stimulus equates to 4% of gross domestic product, meaning France is ploughing more public cash into its economy than any other big European country as a percentage of GDP, an official said ahead of its formal launch later on Thursday. France's recession, marked by a 13.8% second quarter GDP contraction that coincided with the country's COVID-19 lockdown and is set to generate an 11% drop in 2020 as a whole, has also been one of Europe's deepest.