Slammed by virus, France unveils huge economic rescue plan

Facing resurgent virus infections, France will spend $118 billion to try to pull the country out of its worst economic slump since World War II

PARIS — Facing resurgent virus infections, France‘s government is unveiling details Thursday of a 100 billion-euro ($118 billion) recovery plan aimed at creating jobs, saving struggling businesses and pulling the country out of its worst economic slump since World War II.

Prime Minister Jean Castex said on RTL radio ahead of the presentation that the plan hopes to create 160,000 jobs next year and restore France’s economic growth levels of 2019 by 2022 — the year of France’s next presidential elections.

Called “France Reboot,” the plan includes money for renovating buildings and boosting rail use to reduce emissions.

France reported more than 7,000 virus cases Thursday, the highest daily rate in Europe and well above the several hundred cases a day in May and June, when France was emerging from strict lockdown and testing less. The number of people in intensive care with the virus is slowly edging up, though is far from the crisis levels of March and April.

Despite the rise, France’s schools reopened their doors this week for in-person classes, and authorities are encouraging people to return to work.

COVID-19 has killed more than 30,600 people in France.

source.

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