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French lawmakers plan $8.4 billion aid for households to fight inflation

Published 06/26/2022, 02:14 PM
Updated 06/26/2022, 02:15 PM
© Reuters. A shopper pays with a ten Euro bank note at a local market in Nice, France, June 7, 2022. REUTERS/Eric Gaillard

PARIS (Reuters) - French lawmakers are drafting a bill to shore-up household buying power by raising some forms of government assistance by 4%, at a cost of 8 billion euros ($8.44 billion) from July to April next year, business daily Les Echos reported on Sunday.

According to the report, the planned increases would apply to welfare benefits for families, unemployed workers and disabled people as well as pension payouts, effective in July.

Housing allowances, meanwhile, could be increased by around 3.5% starting in July as part of a separate bill.

France’s central bank forecast this month that French inflation would average 5.6% this year before falling to 3.4% in 2023 and easing to just below the European Central Bank's 2% target in 2024.

($1 = 0.9475 euros)

Latest comments

ahhh, more inflation....
Please hire some fifth graders to make sensible decisions in Europe
All I can say is lol here
That's will help for sure, they just spend it and create more inflation.
Pumping money in the system to mitigate inflation. That's odd 😂
if you actually read the article then you would know they aren't "pumping money", rather they are just adjusting the benefit rate to account for inflation
 This is just a short term cure that eventually impact the inflation more in the long-run.... Financial cure is not a solution for this. They need to give up the green non-sense and accept the reality and pump more oil and gas. The supply can only cure this inflation. In 1970, the inflation they said was cured by the interest rates but it was actually Saudi pumping more oil in mid 80s that cured the inflation.
Work more and you have more money to spend..35 hours/ week won't cut it.
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