State guaranteed loans extended until the end of June 2022, announces Bruno Le Maire

As the presidential election approaches, the executive continues to pull out its checkbook. The system of loans guaranteed by the State will last a little longer, decided Bercy this Sunday. If the Elysée had decided the end of “whatever the cost” – ending the subsidies deployed in March 2020, he does not want to leave companies behind.

The loans guaranteed by the State were to end in June 2021, before being extended until the end of the year and then until the end of 2022. “All companies that had prospects before the health crisis must take full advantage of the recovery. This is why we are extending the distribution of EMPs by six months”, confirm to Figaro Bruno Le Maire, the Minister of the Economy.

To extend this system over time, an amendment to the 2022 finance bill currently under consideration will be tabled by the government. For its implementation, the measure will have to receive the green light from the European Commission, which is due to vote on this subject on November 17.

According to Le Figaro, “out of the total envelope of 300 billion euros of loans guaranteed at 90% by the State and at the low interest rates announced by the State at the start of the crisis in March 2020, no less than 142 billion were granted by banks to 693,000 companies “. Other loans, notably participatory loans, have also been granted by the State.

The maintenance of this crutch put in place during the health crisis comes at a time when growth forecasts are estimated at 6% for 2021 and 4% for 2022, one of the strongest economic recoveries in the euro zone, after one of the most severe recessions. more massive in Europe (-8% in 2020). “The economic situation is better than expected”, Economy Minister Bruno Le Maire rejoiced at the start of the school year.

Since the start of the school year, the government’s announcements have multiplied: 1.5 billion for Marseille, 500 million additional euros for the implementation of Beauvau security, 2 billion for the energy renovation bonus, 600 million euros for the energy check or 600 million euros for crop insurance for farmers. One of the most recent being the inflation allowance aimed at countering the rise in prices which are impacting the most fragile households.