France: Prime Minister Jean Castex faced with the challenge of reviving the post-coronavirus economy
French Prime Minister Jean Castex during a visit to an X-FAB factory on July 4, 2020. THOMAS COEX / AFP
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While the new French Prime Minister Jean Castex must form his government, he has already announced, during an interview on TF1, that the post-coronavirus economic recovery will obviously be his priority.
Jean Castex and his government, whose announcement should be made " before Monday " will have to " implement the new stage of the quinquennium , the social, economic, environmental and local reconstruction project " drawn by Emmanuel Macron, according to the Élysée . But above all, Jean Castex inherits a decimated economy to revive and even, to rebuild.
Indeed, because of the economic support measures introduced in response to the coronavirus, the national debt will increase by 20 points (150 billion euros) and will reach this year more than 120% of the GDP. Jean Castex will have to find financing for this “Covid debt” and set in motion economic France after the crisis.
►Read: Coronavirus: the French economy, one of the most affected by the crisis
In his televised address on June 15, President Emmanuel Macron drew its outlines: creating jobs by strengthening France's " technological, digital, industrial and agricultural independence ", launching a " country reconstruction plan " based on ecology, energy renovation and support for green energies or investing in health and training and employment for young people.
The difficult pension issue
Jean Castex also inherits the thorny issue of pension reform. This reform, which plans to create a universal pension system by points and to extend working hours had caused months of demonstration during the winter, before being forgotten during the coronavirus crisis.
Forgotten, of course, but not abandoned, Emmanuel Macron having indicated that his reform was still topical and that modifications could be made to it given the context of the end of the crisis. The social partners should therefore be asked about the subject this summer.
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