Egypt's unemployment rate falls in Q2 '25 – CAPMAS    EGP swings vs. USD in early Sunday trade    EGX launches 1st phone app    Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Macron sends out new government to rescue economy
Published in Ahram Online on 07 - 07 - 2020

President Emmanuel Macron's reshuffled government took office on Tuesday, with conservatives given prominent roles in efforts to rescue France's coronavirus-ravaged economy from the worst depression in decades.
Reappointed as finance minister, Bruno Le Maire promised a company-focused recovery plan to revive growth, but said he would not lose control over spending.
Le Maire said he faced a "crushing task" confronted by the severest economic crisis since the Great Depression of the 1930s. "My road map is clear and simple: it will be recovery - morning, noon and night."
The coronavirus crisis has unravelled the hard-fought gains of a liberal economic reform agenda that provoked waves of protests during Macron's first three years in office.
Before the pandemic hit, French growth was among the highest in the euro zone, unemployment was falling and foreign investors were rewarding Macron for deregulating parts of the economy.
But now the jobless rate is rising, the government forecasts the economy will shrink by 11% and debt is spiralling higher.
"It is out of the question that economic stimulus gets done at the expense of well-managed public accounts over the long term," Le Maire continued.
The reshuffle saw former conservatives, including Le Maire, in control of the most influential ministries - a sign Macron will seek to consolidate support among centre-right voters ahead of a possible re-election bid.
An Odoxa-Dentsu Consulting poll showed eight in 10 people believed the reshuffle would not lead to a shift in policy direction.
At least two small groups of feminist protesters targeted the new government.
Three topless women protested in front of the Elysee Palace, one of them bearing the slogan "RIP The Promises", as Macron prepared to convene the cabinet for the first time.
In a second action, protesters took aim at new Interior Minister Gerald Darmanin, against whom an investigation into a rape allegation was reopened last month.
Darmanin, who was previously Macron's budget minister, denies rape.
Macron redrew the political landscape when he swept to power three years ago, carving out a niche in the centre ground and poaching ministers from the left and right.
On Monday, he let go of several former Socialist ministers, while promoting others from conservative ranks.


Clic here to read the story from its source.