Russia is not the only country which is facing a serious crisis. Thus, the President of France has declared a state of economic emergency. According to Francois Hollande, the present social and business models are calling for immediate redefining. The current economic situation in the country unveiled that the present program for economic recovery suffered a heavy blow over the last years.
According to the French president, it is time for the government to get involved and undertake a number of structural changes to boost the economic growth and to tackle the unemployment crisis. Without going into detail, Francois Hollande stressed in his annual speech to business leaders that the proposed measures would not bring into question the 35-hour workweek.
So far, experts can only guess what reforms the president was talking about. Some analysts remembered the program which Francois Hollande set out ahead of the presidential election 2017. A €2-billion plan to “reverse the trend” of unemployment topped the list of his major targets. Special attention was drawn to small companies support in the form of additional subsidies. Besides, the measures involve government incentives to hire young people. Hopefully, the proposed plan will bear fruit helping France adapt itself to a changing world and boosting the economic growth in the country.
