ECONOMY

Thu 27 Oct 2022 8:48 am - Jerusalem Time

Macron pledges a solution to high inflation and strikes

PARIS - (Xinhua) French President Emmanuel Macron vowed on Wednesday that he would "not leave France without a solution" to confront soaring inflation and strikes.


"Together we will face the storm," he said during an interview titled "French Emergencies" broadcast on national television ((France 2)).


He pointed out that the country is expected to witness an estimated 15 percent increase in electricity and gas prices at the beginning of next year, stressing that the government will continue the "tariff shield" related to energy, and will help students and low- and middle-income families, in addition to businesses.


He added that the government's strategy is to "stabilize public spending, pay off our debts, maintain growth, create jobs and cut taxes."


He also pledged to create more job opportunities for young people.


The President called for "social dialogues" to prevent and end strikes, particularly the recent strikes that caused a nationwide fuel scare.


At the same time, he defended the decision to reform the pension system, related to raising the retirement age to 65 years. Otherwise, pension contributions should be increased or pensions for the elderly reduced, according to Macron.


And he added, "As of 2023, we will have to change the legal retirement age by 4 months annually."


Macron acknowledged that compared to China, France is lagging behind in the production of electric cars and batteries, pointing out that it aims to produce two million electric cars and two million batteries made in France by the end of his presidency in 2027.


At the same time, he stressed that the government will continue to support families in purchasing electric cars.

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Macron pledges a solution to high inflation and strikes

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