PARIS (AFP)--France plans to pump EUR19 billion into key industries as part of a stimulus package for the French economy, Finance Minister Christine Lagarde said Tuesday.
The minister told the Europe 1 radio station that any French stimulus package would be equivalent to 1% of the country's gross domestic product.
"So in France, that would mean around EUR19 billion euros. We will see if we can agree with our European partners on the 1%. All countries need to move together," she said.
President Nicolas Sarkozy said earlier Tuesday that he would present the full details of a rescue plan in the next 10 days.
The latest initiative would help shore up the automobile industry and construction sector among others and comes on the heels of a EUR20 billion strategic investment fund launched last week.
Sarkozy last week announced that his government was working on a package of measures to revive the French economy. Monday, he met with German Chancellor Angela Merkel to discuss a Europe-wide rescue plan.
Wednesday, the European Commission is to present a coordinated multi-billion euro package of national measures, EUR130 billion euros, or 1% of total GDP of the E.U.'s 27 members.
Facing an economic downturn, Britain on Monday announced a GBP20 billion package to fire up consumer spending.
Germany announced earlier this month a raft of measures including tax breaks and infrastructure spending which it says is worth EUR32 billion over two years to stimulate economic activity.
-Dow Jones Newswires, 201-938-5500
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(END) Dow Jones Newswires
November 25, 2008 16:48 ET (21:48 GMT)

Publié le 25 novembre 2008 Copyright © 2008 Dowjones