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Macron’s new economic measures will cost up to 10 bln euro

December 11, 2018, 2:50 UTC+3 PARIS

Macron’s measures were a response to the demands of the Yellow Vests movement, which has staged protests since mid-November

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PARIS, December 11. /TASS/. New economic measures declared by French President Emmanuel Macron after weeks of unrest across the country will cost between 8 and 10 billion euro, Secretary of State Olivier Dussopt, who is in charge of budget policy, said.

"This will demand between 8 and 10 billion euro," Dussopt said, commenting on the package of measures unveiled by the French leader on Monday. The government is looking into how to finance these measures, he noted.

The French president addressed the nation on Monday, declaring the decisions which he made amid the crisis caused by the Yellow Vests protests. Macron promised to increase the minimum wage by 100 euros from 2019 and additional bonuses for French employees in the end of this year, which won’t be subject to tax, while taxes will be scrapped for pensioners whose retirement benefits are less than 2,000 euro. The French leader also condemned violence against police during the protests.

Macron’s measures were a response to the demands of the Yellow Vests movement, which has staged protests since mid-November. Protests turn into clashes with the police. Despite certain concessions made by the government which vowed to cut taxes and raise wages, the Yellow Vests have pledged to continue protests.

According to the latest data of the French interior ministry, more than 4,500 have been hauled off during the protests since mid-November. As many as 4,099 of them were placed in custody on suspicion of "plotting to commit violence or inciting a crime.".

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