(Bloomberg) --
President Emmanuel Macron appealed for patience as he discussed the hardships France faces as life returns to normal following the coronavirus pandemic, and said the state would spend another 100 billion euros ($113 billion) on an economic recovery plan.
The funds, which will come on top of emergency aid and sector specific plans for tourism, aeronautics or auto manufacturing, will target the country’s “industrial, ecological, local, cultural and educational recovery,” Macron said.
“We are entitled to think big and long-term,” he said. “I’m convinced we can build a different country in 10 years.”
Speaking during a televised interview after a ceremony commemorating Bastille Day, the French leader sought to present the economic ravages of the virus as an opportunity to invest in the sectors that will matter in the future. He avoided saying whether he would run for re-election in 2022.
Macron has previously said that 460 billion euros were spent to support the economy during and after the lockdown, including a state-funded furlough, tax cuts and loans for businesses.
©2020 Bloomberg L.P.
Advertisement