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Economy

Economic fall “without precedent” in local public investment in 2014

Translated Sunday 26 July 2015, by Adrian Jordan

In 2014, “growth struggled to start”, the National Institute of Statistics and Economic Studies (INSEE) affirmed yesterday, when presenting the national audit

In 2014, “growth struggled to start”, the National Institute of Statistics and Economic Studies (INSEE) affirmed yesterday, when presenting the national audit, while “many factors such as a drop in prices and depreciation of the euro were favourable”. This was caused by austerity policies, which led to an unprecedented fall in local public investment. “Investment by public administrations diminished by 7.3 percent (...). Some local authorities contribute to this drop in investment more than others: these effectively decrease by 9.8 percent (following drops 5.5 percent in 2013 and 6.1 percent in 2012”, noted the departmental head of national accounts, Ronan Mahieu. “Though it is normal for investment expenditure to significantly decrease after municipal elections, the drop observed is without equal during previous election years.” CM


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