The decline in economic activity is expected to reach 15%, according to Finance Minister Bruno Le Maire.
Recalling that in the first quarantine activity fell by 30%, mainly due to the «collapse of the construction sector,» the government This time, taking into account the measures being taken to support businesses, it is aiming for a slowdown of around 15%.
The minister also said that the total cost of financial support for companies during the lockdown will amount to 15 billion euros for each month. The measures announced will remain in effect until December 1, but may be extended.
Le Mer said that the French government will introduce tax exemptions for those property owners who are willing to forgo a portion of the rent owed to them by companies that were forced to close due to the measures. This measure will benefit companies with fewer than 250 employees that were ordered to close, as well as hotels and restaurants. For the period from October until December, landlords who refuse to collect at least one month's rent will receive a tax credit equal to 30% of that rent.
Cases are on the rise
France announced on Thursday, October 29, 47,637 new cases confirmed cases of COVID-19 over the past 24 hours, compared with 36,437 yesterday, Wednesday, and the record high of 52,010 on Sunday.
All of the infections rose to over 1.28 million. The death toll increased by 235, to 36,020.
The number of people admitted to hospitals after contracting the virus fell to 976 today, following three consecutive days with approximately 1,200 admissions per day.
Currently, 21,183 people are hospitalized with COVID-19, compared to a peak of over 32,000 in mid-April. The number of people in intensive care units increased by 111, to 3,156.
