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French Senate approves package of measures against inflation

French Senate approves package of measures against inflation

Paris, Aug 3 (Prensa Latina) The French Senate supported a package of measures in favor of the purchasing power of the population, hit by inflation, an initiative considered insufficient by the left.
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In the early hours of Wednesday, the upper house of parliament gave its approval to the bill that seeks to rectify the State budget in order to alleviate the pockets of the people, a text supported by 225 senators and rejected by 101.

The proposal includes 44 billion euros, including almost 10 billion for the renationalization of the multinational Electricity of France (EDF), and resources to alleviate the increase in the cost of energy.

The conflict in Ukraine and the boomerang effect of the sanctions imposed by the West on Russia as a result of this conflict mark the complex economic context in Europe, where inflation in France climbed in May for the first time in four decades to more than 5% inter-annual variation and exceeded 6% in July.

From the left, socialist and communist parliamentarians expressed their dissatisfaction with a bill which in their opinion reflects the social regression in the country, and denounced an alliance between the right wing in the Senate and the government.

The increase of the minimum wage to 1,500 euros per month and a greater support to retirees are among the demands in the current scenario of loss of purchasing power, which could generate new protests after the holiday period.

The government’s expectation is that the rectified State budget for 2022 will be finally approved this week.

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