The French economy is "holding up very well" according to Eric Lombard

Despite a budget adopted in February instead of December, Chinese overcapacity pouring into Europe, the war in Ukraine, and the threat of huge increases in US tariffs, French GDP grew by 0,1% in the first quarter. "Under these circumstances, our economy is holding up very well," the minister commented at a press conference organized by the ARC cabinet.

He believes that "the atmosphere is changing" in Washington, with Donald Trump's comments on customs duties moderating. "We are in dialogue, the Americans have not disengaged from international bodies," he said. Moreover, the situation in Ukraine is "progressing." "The United States is returning to its core interests," he said.

In Europe, he described the return of the Franco-German duo, supported by other European countries, as "really good news." He said he was "very much in agreement" with his counterpart Lars Klingbeil, whom he has already met twice since taking office on May 6.

Mr. Lombard also welcomed the publication on Thursday of the EY barometer, which for the sixth time in a row ranked France as the most attractive country in Europe for foreign investment, even though the attractiveness of the United States has been reinforced in recent years by the Inflation Reduction Act (IRA), the incentive program put in place by Joe Biden.

"I want to tell entrepreneurs that Europe is a haven of political and regulatory stability, with a fairly consistent rule of law," he noted.

The minister also indicated that France was working with Spain to create a "European investment label" and announced a meeting on June 5 in Paris on this subject with his European counterparts.

Finally, when asked about the social conference requested by the Head of State on the financing of the social model, Mr. Lombard felt that it was necessary to "allow the debate to develop." And "if what ultimately comes out seems appropriate to us, we will include it in next year's finance bill. And if a little more time is needed, in the following year's budget," he declared.