French Min: Government To Invest 75% Of Econ Stimulus Plan In '09
He also said the plan, announced in early December, aims to generate a multiplier effect, by which for every EUR1 invested by the state, EUR3 of investment will come from other sources, including the private sector and local authorities.
Devedjian said that EUR11 billion of the plan will go into the government's budget, EUR11 billion is destined for tax relief measures and EUR4 billion will be channeled through investments of state owned companies.
Regarding the French government's plan to offer EUR1000 for scrapping old vehicles, Devedjian said it should be accompanied by incentives from auto makers. He said he expects around a 20% reduction in the price of small cars as a result.
-By William Horobin, Dow Jones Newswires; +33 1 4017 1740; william.horobin@dowjones.com
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Publié le 14 Décembre 2008 Copyright © 2008 Dowjones
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