PARIS - The coronavirus (COVID-19) pandemic has revealed France’s need for greater economic independence, said French President Emmanuel Macron.
According to Mr Macron, France and Europe in general have been overly reliant on global supply chains, which have proven to be vulnerable during the pandemic.
“The only answer is to build a new, stronger economic model, to work and produce more, so as not to rely on others,” he said in a speech on Sunday (14/6).
As reported by Reuters, the French government projects the country’s economy to contract by 11% in 2020, the worst downturn since World War II. The government has budgeted €500 billion to help struggling businesses and prevent unemployment.
As of Sunday, France has 157,220 confirmed COVID-19 cases with 72,859 recoveries and 29,407 deaths. (MS)