At the end of the Council of Ministers, the Minister of the Economy also said he was “proud of the results” of French companies.
While inflation strengthened again in July, reaching 6.1%, Bruno Le Maire wanted to be reassuring. “Inflation remains our number one concern. But we anticipate a decline“In 2023, he said, this Friday, at the end of the Council of Ministers. The Minister of Economy and Finance nevertheless acknowledged that “we are in an inflationary peak butinflation will remain at a high level until the end of 2022“.
SEE ALSO – Rebound in growth: Bruno Le Maire hails “a victory for the French economy in difficult times”
Bruno Le Maire was also delighted with the rebound in growth in this second quarter. Indeed, after a decline of 0.2% in the first quarter, France returned to growth from April to June, recording a more dynamic rebound than expected in its GDP which rose by 0.5%, according to data published by INSEE. “The growth figure for the second quarter is a victory for the French economy in difficult times“, welcomed the boss of Bercy. “This means that we will achieve the 2.5% growth in 2022 that the government had announced. This result, this economic victory shows that we must not give in to the ambient pessimism“, he judged, in a context marked by the war in Ukraine, the difficulties on the energy market and the risks of recession in the United States.
Read alsoFrance: at +0.5%, growth rebounds stronger than expected in the 2nd quarter, according to INSEE
SEE ALSO – Unemployment: France aims for “full employment” for 2026, according to Bruno Le Maire
The government is counting ongrowth for 2023 at 1.4%, for 2024 at 1.6%, for 2025-2026 at 1.7% and for 2027 at 1.8%. These figures are credible, serious, they are shared by the European Commission. They are validated by the results that we have just obtained in the second quarter“, asserted Bruno Le Maire.
The member of the government has also come to the defense of French companies, many of which are publishing their results these days. “I am proud of the results of our tricolor companies and surprised to see how much we overwhelm today with all the ills of French companies that show good results.“, he reacted. The Minister, who remains opposed to the introduction of a tax onsuperprofitsby certain companies, particularly in the energy sector, called on private actors to contribute more to the defense of household purchasing power. If Engie and TotalEnergies have already announced initiatives, other sectors can take over, pleaded Bruno Le Maire, citing the “banking sector. On bank charges, I think the sector can certainly do more on this“, he judged.
SEE ALSO – Bruno Le Maire: “Inflation will remain at a high level until the end of 2022”