The crisis cost 15 to 20 billion euros to the State budget for its shareholder component alone.
The crisis was a severe blow for the State shareholder as it weakened several behemoths in its portfolio: Air France-KLM, Renault, EDF, SNCF…
The situation was so tense during the first confinement, in April 2020, that as part of a budget amending law, the government set aside an envelope of 20 billion euros to finance possible equity investments or nationalizations of companies weakened by the coronavirus.
In a report published Sunday on “the management of the State’s financial participations during the health crisis“, the Court of Auditors looks at these months of high tension and wonders about the effectiveness of the channels of action. France has in fact not opted for simplicity, with three actors who share the management of public participations within companies: the State Participations Agency (APE), housed in Bercy, the Caisse des dépôts ( CDC) and Bpifrance.
Read alsoThe Court of Auditors curbs Culture and its policy of “sprinkling” subsidies
The court rather awards a satisfaction to the three…
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