SHARE
COPY LINK

FINANCE

Covid will cost France half a trillion euros in state aid and lost revenues, says government

The Covid-19 pandemic will set the French state back nearly half a trillion euros over three years in additional spending and reduced tax revenues, the government said on Tuesday.

Covid will cost France half a trillion euros in state aid and lost revenues, says government
Photo: Ludovic Marin/AFP

The health crisis cost the state an estimated €158 billion in 2020, a figure set to rise to €171 billion in 2021 but then fall back to €96 billion in 2022, Public Accounts Minister Olivier Dussopt told Le Figaro daily.

The figures, which the finance ministry confirmed to AFP, bring the estimated cost of the pandemic to €424 billion between 2020 and 2022.

They include money spent on supporting the salaries of people on furlough during the pandemic and aid for companies struggling to stay afloat during the crisis.

France has borrowed heavily to try keep the economy afloat through two full nationwide lockdowns and a slew of other measures including partial lockdowns, curfews and the closure of bars, restaurants, gyms and cultural and tourist sites.

Public debt is forecast to reach 118 percent of GDP this year while the budget deficit is expected to hit 9 percent of GDP, a postwar record.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

COVID-19

France scraps compulsory self-isolation after positive Covid test

France's public health body outlined how Covid-19 rules changed starting on February 1st, including an end to compulsory self-isolation after a positive test result.

France scraps compulsory self-isolation after positive Covid test

Starting on February 1st, Covid rules relaxed in France as the country brought an end to compulsory isolation for those who test positive for the virus.

However, those travelling from China to France will still be required to agree to a random screening upon arrival and to isolate in the case of a positive Covid-19 test result. Travellers aged 11 and over coming from China must also provide a negative test result (less tan 48 hours) prior to boarding and those aged six and over must agree to wear a mask on board flights. These regulations – which was set to last until January 31st – is set to remain in place until February 15th.

The French public health body (The Direction générale de la santé or DGS)  announced the change on Saturday in a decree published in the “Journal Officiel” outlining the various ways the body will loosen previous coronavirus restrictions.

READ MORE: What Covid rules and recommendations remain for visiting France?

Those who were in contact with someone who tested positive – ie a contact cases – will also no longer be required to take a test, though the public health body stressed that both testing after contact and isolating after receiving a positive test remain recommended.

Previously, even asymptomatic people who had been in contact with someone who tested positive for Covid-19 were required to test on the second day after being notified that they were a “contact-case”.

These changes took effect on February 1st.

READ MORE: What changes in France in February 2023?

The DGS also said that website SI-DEP, which records test results, will remain in operation until June 30th, however starting in February it will only collect personal data with the express permission of the patient.

Manual widget for ML (class=”ml-manual-widget-container”)

Additionally, the French government announced that sick leave procedures for people with Covid-19 would return to normal starting February 1st – this means that those who test positive for Covid-19 now also have the three-day wait period before daily sick benefits are required to be paid, as is usually the case. Previously, people with Covid-19 could expect daily sick benefits to begin at the start of their sick leave period (arrêt maladie in French).  

READ MORE: How sick leave pay in France compares to other countries in Europe

Covid tests are still available on walk-in basis from most pharmacies are are free to people who are fully vaccinated and registered in the French health system. Unvaccinated people, or visitors to France, have to pay up to a maximum of €22 for an antigen test of €49 for a PCR test. 

If you recently tested positive for Covid-19 in France – or you suspect you may have contracted Covid-19 – you can find some information for how to proceed here.

In explaining the changes that began at the start of February, the French public health body also noted a drop in Covid-19 infections in the past month. As of January 30th, approximately 3,800 people in France had tested positive in the previous 24 hours for the coronavirus – which represents a decrease from the averages of 20,000 new cases per day about one month ago.

SHOW COMMENTS