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CONSUMPTION – The movement of yellow vests has a "severe impact" on the economy, according to the Minister of Economy Bruno Le Maire. The business activity is very affected to a few weeks of Christmas.
– The drafting of LCI
"In supermarkets, the loss of turnover was 35% Saturday, November 17 and 18% Saturday, November 24. In the week, it has ranged between 8% and 15%" said the Minister of Economy Bruno Le Maire Monday, November 26, at a meeting held in Bercy with employers' organizations, federations of traders and artisans, insurers and banks, hoteliers and restaurateurs.
"Declines in turnover can reach 60% to 70% for some butchers, hairdressers or bakers," while losses for wholesale markets are estimated at between 30% and 40%, added the minister. Other professions are also affected. "We have a number of colleagues who are penalized by the movement, for example in the building, where some companies have difficulty accessing the sites," said Alain Griset, president of the Union of local businesses.
Too early for accurate damage estimates
However, it is "too early" to badess the impact of these actions on growth, said the Minister of Economy.
To prevent traders from losing too much money and being put at risk at this crucial time of the year for them, Bruno Le Maire announced some help. The government plans to allow stores to open on Sunday to make up for their shortfall. Finally, banks "will implement facilities in case of overtaking overdrafts" and insurers have been asked to accelerate their compensation procedures.
For the businesses affected by the breakers, Bercy will "put back in place the cell of economic continuity which will ensure the good reimbursement by the insurers of the damage that has been caused, which will deal with problems of cash and partial activity or spreading social and fiscal deadlines, "said the Minister of the Economy.
The LCI editorial
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