Legislative: large companies warn of a “major risk” of “long-term decline” in the economy

Afep, which brings together the 117 largest French companies, warned on Monday June 17 of a "major risk" of a "sustainable stall" of the French and European economy depending on the outcome of the early legislative elections in France, calling for political parties to “budgetary responsibility”.

“The major risk is that of the lasting stalling of the French and European economy which the temptations of international isolation and budgetary headlong rush would only reinforce,” declared the French Association of Private Enterprises in a press release sent to the AFP, without naming parties.

“This situation would compromise the maintenance of employment and our social model to which we are all attached,” she added, in a rare public speech.

On April 15, Afep, which brings together companies like TotalEnergies, Société Générale, Airbus and Danone, had already expressed itself to formulate its "priorities" before the European elections of June 9 in order to obtain the "judgment" allowing to avoid the EU "an irreversible disconnect" with Asia and North America.

This time, before the elections of June 30 and July 7, the association "reaffirms that stability, that the safeguarding of the confidence of those who undertake, that the continuation of the mobilization in favor of work, that the openness which alone allows us to highlight French excellence (...), that the deepening of the transformation of public services and finally that budgetary responsibility are essential.

Afep, chaired since June 2023 by Patricia Barbizet, indicates that its companies employ 12% of employees in the private sector, represent 15% of France's market GDP, and pay 20% of compulsory levies on businesses in France.