France will need 10 years to recover trade surplus

(Prensa Latina) France will need 10 years to recover a positive trade balance, hampered by previous governmets’ fiscal and economic policies, declared today Bruno Le Maire, Minister of Economy.

The person in charge considered it posible “to reverse a 30 year trend”, recalling “that in the year 2000 we were still in balance”. He attributed this negative trend to the increase in relocations of large companies. “Large industrial groups have mantained their head offices in France however, they have moved abroad their subsidiaries and job vacancies”, he explained, which means that “62% of the industrial jobs of these large French groups are abroad” while in Germany this porcentage is 38 percent and in Italy 26 percent, the minister said.

To reverse this data Le Maire proposed “to fight for the French reindustrialization putting the reality of the problems on the table ” and to strengthen collaboration with industrialists in training policies, especially in apprenticeship training centers (CFA), to make up for the lack of skills on French territory.

The minister’s declaration occured three days after the publication of the largest monthly negative balance in history, of nine billion euros recorded in November, bringing the trade balance deficit in the last 12 months to 77.6 billion euros, establishing a gap never before reached in the country’s accounts.

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