France Compelled To Take Loans For Budget 2023



A developed and advanced country like France is now also compelled to take heavy loan to tackle with power crisis in the budget 2023. Meanwhile government have also increased the salaries of teachers, judges and government employees. French Government had announced on Monday, that we are gonna take record loan of 270 Billion Euros in the upcoming budget that includes energy price caps which are expected to rise in following winters. French finance minister Bruno Le Maire says that this is neither a restricting budget nor it is easy. It's a very responsible and protective budget in a highly uncertain situation. After the Russian attack on Ukraine, power prices have been unconditionally increased and authorities are now focusing more on "Autonomy" in energy producing to avoid any consequences in the case if these crisis gets more worse. Government is confident that by January, the increase in gas and power prices will be limited to just 15%, for which 45 billion euros are expected to be spent. French government have also announced to raise the salaries of judges, teachers and government employees because inflation is expected to rise by 4.3% next year and approx 11,000 new recruits will also be hired in the government sectors which is totally opposite of what Macron said during his election campaign in 2017.  

                                                                                                     (translated)

Comments

Post a Comment

Popular posts from this blog

European Power Crisis Getting Severe

Image
Due to the Russia-Ukraine war, power crisis in Ukraine is getting severe day by day, astonishing increment in the household power bills have reminded the 1970 power crisis. Gas prices have been increased by 12 times. European Union is thinking seriously of intervening in energy market. Countries of EU have spent about 280 billion euros to save their people from power expenditure. As per the US paper Fortune, Goldman Sachs warns that during this increasing power crisis the local household power bills may reaches to 2 Trillion dollars. Some restaurants and coffee shops have already seen the 3 times rise in power bills this year. This power crisis of Europe would going to be more deeper than the 1970 oil crisis. According to the Goldman Sachs, by 2023 average european house would be spending 500 euros monthly on their power expenses and this is 3x more than the expense in 2021. This would be the scene when Russia is going to reduce the gas supply but if they cut it to zero then the monthl
Read more

Rampant Population On The Verge Of Destruction

Image
It has been said in the annual report o United Nations o the account of World Population Day that total number of planet Earth's population will be hitting 8 Billion mark in next few days. It has been calculated in he report that by 2030 these figures will each 8.5 billion, which means there would be the addition of 500 million in next 8 years. By 2050, 9.7 billion will be living in this planet and 10.4 billon by 2100. It took 12 years to reach 8 billion from 7 billion marks and it is said that next billion will be coming in 2037. In 2022, the two most populated countries of the world are located in continent Asia, with the population of 1426 million China is the most populated country of the world, while India on second with numbers of 1412 million. Unite Nations have predicted that by 2050 half of the world's population will be living in just8 countries. these includes China, India, Pakistan, Congo, Egypt, Ethiopia, Nigeria, Philippines and Tanzania. On the other hand as per
Read more

America Releases Seized Afghani Assets

Image
  America has established a new fund with the collaboration of Switzerland and Afghan economists which will be used for economic stability in Afghanistan. Those billion dollars will be transferred in this fund which is owned by Afghanistan but was freezed by US when Taliban came into power last year. According to the American officials, 3.5 Billion Dollars worth of assets are set to be transferred in this Swiss fund. As you know last year in August, when Talibans de-throwned Ashraf Ghani to take over Afghanistan they've been in severe economic crisis ever since. The situation went so bad that Taliban officials demands US government several times to release their assets which was conserved by US. They also did table talks with the concern authorities multiple times on this matter. Pakistan kept on supporting Afghanistan throughout their tough time since August 2021.                                                                                                                       
Read more