Wednesday, August 5, 2020

Despite the recession, France is not “powerless in the face of the crisis”, assures Le Maire

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Despite the economic slump linked to the Covid-19 epidemic, and confirmed by figures from INSEE, Friday morning July 31, Bruno Le Maire wants to be optimistic. “We are not powerless in the face of the crisis,” assured the Minister of the Economy on Friday, after the publication of a GDP plunge of 13.8% in the second quarter. “We are going to fight to do better than the – 11%” planned for the whole year by the government, added the minister.

The minister also announced, on CNews, that the government will put in place at the beginning of August a new loan guaranteed by the State (PGE) “which will be able to go up to 80% of the turnover of the hotel or restaurant. who will ask ”. The tourism sector, “hit hard by the health crisis” linked to the coronavirus, judged the minister, will thus benefit from additional aid to cope with cash flow problems, thanks to this loan at an interest rate of 0.25%.

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