The COVID-19 recovery planFollowing the economic crisis linked to the COVID-19 pandemic in France, the French government has opened a budget of 36 billion euros for 2021. This recovery plan is intended for individuals, companies, local authorities and administrations and is based on three themes: the economic, social and ecological reconstruction of the country. Added to this budget is the emergency plan for the health crisis with aid to businesses.
This vast plan, initiated at the very beginning of the crisis, has made it possible to limit the increase in unemployment in France thanks to partial unemployment and the companies closures through subsidies and state loans at zero interest.
The economic model in the face of debtAlthough the economy is rapidly liberalizing in France, its economic system is still based on the principle of the welfare state, which intervenes regularly in the country's economy and finances to ensure that social services are developed for the well-being of its citizens.
But this model is very expensive, the country keeps having a rather high debt level. In 2021, the public debt in France reached 118 percent of the GDP, two points higher than in 2020.