France needs 17 billion Euros to meet Yellow Vests’ demands

YEREVAN, APRIL 30, ARMENPRESS. The total cost of the measures announced by French President Emmanuel Macron to respond to the demands of the Yellow Vests movement amounted to nearly €17 billion, Economy and Finance Minister Bruno Le Maire has said, RT reports.

Speaking on Tuesday on France 2, he promised to partially offset the bill by saving money on public spending. Of the €17 billion, ten billion correspond to measures announced by Macron in December.

In response to months of anti-government protests, Macron said last week that he would cut income tax further by €5 billion ($5.6 billion).

“The president has set a principle of which I am the guarantor: each euro of decrease in income tax must be financed by a decrease of one euro in public spending,”Le Maire told LCI television.