French government says economic woes to persist until 2024
Ramin Mazaheri
Press TV, Paris
The French government has effectively declared that the current economic woes of the people are going to persist for years.
Unprecedented inflation may not lift until 2024, and that could cause major problems for recently re-elected president Emmanuel Macron.
France’s government has warned don’t expect inflation to return to normal until the end of 2023.
At nearly 6%, French inflation is the highest since 1985, and the government says the peak won’t even be reached until this winter.
It’s a stunningly serious diagnosis. Inflation has seemingly been the number one voter complaint since the euro currency was introduced in 1999, and now it’s worse than ever.
Many are pointing the finger at the pan-European project, with Brussels demanding austerity and forcing Paris to ignore mass protests and public opinion.
Across the EU only Malta has managed to keep inflation lower - France has been saved by its constantly-derided socialist-inspired measures, such as caps on energy prices.
However, many are demanding more price caps, re-indexed pensions, immediate bonuses, higher wages across the board and especially for low-wage workers in order to keep inflation from making the poverty rate skyrocket.
80% of France says they’re watching their expenses more carefully, which seems likely to push France’s consumer-driven economy officially into a recession next quarter.
70% are distrustful of their economic future, which is record pessimism so soon after a presidential election.
The French have been told that they might have nearly two years of widespread economic hardship. That might not only affect this month’s legislative elections but it could lead to major social unrest, yet again.
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