France's parliament approves emergency budget

France's parliament approves emergency budget

Makes provision for the government's 110 bn euro plan to save the economy from coronavirus-related collapse

AgenciesUpdated: Saturday, April 18, 2020, 04:17 PM IST
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France's lower house of parliament approved an emergency budget overnight that takes into account the government's 110 billion euro (USD 120 billion) plan to save the economy from virus-related collapse.

The budget includes bonuses for medical staff, funds to help struggling workers and families, and aid to businesses including strategic industries like aviation and car manufacturing.

The bill goes to the Senate on Tuesday. The government has warned that France's economy, one of the world's biggest, could shrink 8 per cent this year and see its worst recession since World War II.

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