Hollande to Launch Ten-Year Investment Plan to Boost Economy

President François Hollande. Photo: flickr.com/jmayrault

President François Hollande.
Photo: flickr.com/jmayrault

French President Francois Hollande has announced a ten-year investment plan as part of an effort to breathe life into France’s to ailing economy. The main beneficiaries of the 20 billion euro ($26 billion) plan will be the infrastructure, clean energy, health, and healthcare technology sectors.

In the announcement, Hollande reiterated the three main priorities for the upcoming fiscal year: jobs,  young people, and securing France’s future. The plan comes at a crucial time for Hollande as he marks his one-year anniversary in office.  He has been forced to defend his administration’s policies with his popularity levels falling sharply due to France’s stagnant economy. This has been despite his best efforts to stimulate employment.

Many of his policies have been met with criticism from the public, particularly higher tax rates and the cutting of government holdings in certain French companies.

“The coming year will be one of results,” said Hollande in a press release earlier this week. “I said that my term would have two phases. The first, recovery…and a passing phase, allowing us to change the model and live better…We are in recovery, but we already have a glimpse of the passing [stage].”

The plan will be fully unveiled in the coming weeks by Prime Minister Jean-Marc Ayrault.

 

 

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