France Unleashes 100 Billion Euro Stimulus To Revive Economy

• France will spend 100Bn euros to help pull its economy out of one of Europe’s worst coronavirus-induced slumps, under a recovery plan that revives pro-business reforms championed by President Emmanuel Macron with a greener tinge.
• The $118Bn stimulus equates to 4% of gross domestic product, meaning France is plowing more public cash into its economy as a percentage of GDP than any other big European country, 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 a COVID-19 lockdown and a projected 11% drop in 2020 as a whole, has also been one of the region’s deepest.

(Source: Reuters)