If the 75 billion euros saved by the French during the coronavirus crisis were redistributed in services (hotel, catering, leisure), Mathieu Plane thinks that we could avoid a “dark scenario”.
The French have saved 75 billion euros since the start of the containment (55 billion during, and 20 after), according to a report made public Friday, June 26 by the French Observatory of Economic Conditions (OFCE). A sum that could revive the economy, “If there is a revival of confidence, there is a real support for economic rebound”, analyzed on franceinfo, Mathieu Plane, deputy director of the analysis and forecasting department of the OFCE.
The economist notes a “splits” regarding household confidence. On the one hand, “households have no confidence at all in the future: they anticipated that the job market would deteriorate and that it was not just an epiphenomenon. And on the other hand, we have levels of capacity savings never achieved “, notes Mathieu Plane.
The extent of this woolen stocking is explained by the confinement which caused a “consumption which has dropped a lot, while incomes are quite low. And today we are left with 75 billion of accumulated savings, which is colossal”. With this savings, “the government’s plan must really be to encourage a recovery in the economy, for Mathieu Plane.
The challenge is the deflation of this savings, which, if it becomes a precautionary savings, will cause a very severe economic shock.at franceinfo
“On the other hand, he continues deputy director of the OFCE analysis and forecasting department, sIf these 75 billion are redistributed in the economy, in particular in the services sector, linked to accommodation, catering, leisure, this would minimize losses. It would not be the dark scenario “, analyzes Mathieu Plane.
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