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Sarkozy unveils $33 billion stimulus

Published: Dec. 4, 2008 at 8:59 PM
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French President Nicolas Sarkozy gestures as he gives a speech to unveil the government's economic stimulus package in Douai, Northern France, December 4, 2008. Sarkozy unveiled a massive stimulus plan worth 26 billion euros (33 billion dollars) to help France resist the global economic slowdown.(UPI Photo/Eco Clement)
French President Nicolas Sarkozy gestures as he gives a speech to unveil the government's economic stimulus package in Douai, Northern France, December 4, 2008. Sarkozy unveiled a massive stimulus plan worth 26 billion euros (33 billion dollars) to help France resist the global economic slowdown.(UPI Photo/Eco Clement) | Enlarge Enlarge
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PARIS, Dec. 4 (UPI) -- French President Nicolas Sarkozy Thursday unveiled a $33 billion economic stimulus plan aimed at jump starting France's economy.

The stimulus measures include support for the construction and car industries as well as for small businesses, The Financial Times reported.

Sarkozy said the stimulus package would "make a massive effort on investment" rather than boost consumption.

The French government said the stimulus package would add 0.6 percentage points to its gross domestic product in 2009. The package will push France's deficit to 3.9 of its GDP, the newspaper reported.


© 2008 United Press International, Inc. All Rights Reserved.



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