October 19, 2018

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France launches €57bn investment fund (Punch)

France launches €57bn investment fund (Punch)

Prime Minister Edouard Philippe announced plans Monday to pour 57 billion euros ($67.8 billion) into modernising France’s sluggish economy, with a hefty chunk set aside for making it more environmentally-friendly.

Spread over five years, the fund will be slightly bigger than the 50 billion euros that centrist Emmanuel Macron had pledged when he was elected president in May.

Philippe said the fund would have an “amplifier effect” on the new government’s reform programme, which includes labour law changes designed to bring down stubbornly high unemployment rate of 9.5 percent. Read more

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