Following the measures taken by the government in the context of the COVID-19 epidemic, the situation in which we find ourselves today, and which will continue to be our reality in the days and weeks ahead, will require our individual and collective commitment to all. Our economy is being affected by this unprecedented event and it will undoubtedly lead to profound questioning of some of the capitalist principles which currently guide our economies (debt burden, sources of supply, relocation …).
The first macroeconomic forecasts linked to growth and industrial production at this stage are by definition very hypothetical forecasts, given the uncertainty of the coming weeks. In any event, the impact will be deep and lasting.
The French government, through the Ministry of Economy and Finance, is evoking the need for 15 to 30 billion euros of aid. The figure will probably have to be much higher if it is to bring massive and total support to all affected sectors of the economy. Germany, for its part, already puts the figure at 500 billion euros and the United States at 1,000 billion. It is not a question of help but a real MARSHALL plan, in view of the amounts announced here. We can already commend the first measures implemented to support our national economy:
- 1.Short-time working is already one of the options available. The State reimburses companies, employees receive 84% of their net salary, 100% if they earn the minimum wage.
- 2.All companies may, if they choose, defer payment of contributions and taxes due in March without penalty and with no need for special procedures.
- 3.Banks have agreed to postpone repayment of corporate loans for 6 months at no cost.
- 4.For companies in need of cash, BPI France has taken steps, specifically guaranteeing loans up to 90%. Leave your cellphone number at http://bpifrance.fr or call 0 969 370 240 for more information on the assistance offered.
- 5.A Solidarity Fund will be created. This will help SMEs and the self-employed who find themselves on the front line facing this crisis
As an investor, I will continue to give my full support to the world of startups, innovation, and green growth. In this uncertain but also meaningful time, a time of questioning and progress, we all have a role to play, together.