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French minister: Long-term strike has 'limited impact' on the economy

2020-01-20T09:49:12.757Z

According to French finance minister Bruno Le Maire, the strike wave in France that has been going on for 46 days has a "limited impact" on the French economy. Due to work interruptions, the economy grew 0.1 percentage point less in one quarter, says Le Maire on Monday.



According to French finance minister Bruno Le Maire, the strike wave in France that has been going on for 46 days has a "limited impact" on the French economy. Due to work interruptions, the economy grew 0.1 percentage point less in one quarter, says Le Maire on Monday.

Although the minister is not clear about the quarter he cites, his statement is in line with what the French national bank reported last week about the fourth quarter of 2019. In that period, quarter-on-quarter growth would have been achieved.

"There will be consequences, but I think it will be limited," Le Maire told French channel LCI television . "The estimates currently available show that the impact on growth will be around 0.1 percentage point in a quarter. Over a full year, that will be a very limited effect."

The actions are directed against plans to simplify the pension system by, among other things, raising the retirement age and abolishing special provisions for certain professions. It seems that the strike is losing strength. The government of Emmanuel Macron has made some commitments and strikers are feeling increasing financial pressure to resume work.

Source: nunl

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