French stimulus plan focuses on new technology

Jul 09, 2013

The French government has unveiled a modest stimulus plan focusing on new technology and ecology, in an attempt to boost an economy that's back in recession and is weighing on overall European prospects.

The 12 billion euro ($15 billion) plan announced Tuesday especially targets green investments, in energy, industry, transport, health and research.

French Prime Minister Jean-Marc Ayrault said revenue from the sale of state stakes in will help finance the program, so that it would have a minimum impact on public finances.

The plan fits with the strategy of Socialist President Francois Hollande, who is trying to control spending but is pushing for growth measures instead of austerity. The government predicts growth of just 0.1 percent this year.

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