9/17, 8:56 AM (Source: TeleTrader)
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Le Maire: No raising taxes to combat crisis

French Minister of Economy and Finance Bruno Le Maire reiterated on Thursday the government would not turn to raising taxes to combat the crisis caused by the coronavirus pandemic.

Speaking in an interview with Les Ecos, the minister said the "control of public finances and the pursuit of structural reforms" would lead to economic recovery instead. The minister also predicted the recession would be "less severe than expected" as the economy would probably contract 10% by the end of the year instead of the previously forecast 11%.

Le Maire previously stated France's economy could perform better than expected and beat estimates by the end of 2020.

Breaking the News / JR