French People Need to Work More to Boost Growth, Minister Says

French Minister for the Economy, Finance and Industry Antoine Armand arrives to attend a governmental seminar at the Hotel Matignon in Paris, on November 4, 2024. (AFP)
French Minister for the Economy, Finance and Industry Antoine Armand arrives to attend a governmental seminar at the Hotel Matignon in Paris, on November 4, 2024. (AFP)
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French People Need to Work More to Boost Growth, Minister Says

French Minister for the Economy, Finance and Industry Antoine Armand arrives to attend a governmental seminar at the Hotel Matignon in Paris, on November 4, 2024. (AFP)
French Minister for the Economy, Finance and Industry Antoine Armand arrives to attend a governmental seminar at the Hotel Matignon in Paris, on November 4, 2024. (AFP)

People in France must work more, Finance Minister Antoine Armand said on Monday, adding that the fact that French people worked less than their counterparts in Europe was harming the economy due to lower tax contributions and social security payments.

The government is examining reforms to speed up its sluggish economic growth, although changes to work practices are often opposed by trade unions.

"On average, a French person works clearly less than his neighbors, over the course of a year," Armand told C News TV.

"The consequence of this is fewer social security payments, less money to finance our social models, fewer tax receipts and ultimately fewer jobs and less economic growth."

France, the euro zone's second biggest economy, wants to cut its public deficit to a targeted 5% of GDP by 2025.

The country's 35-hour work week, introduced in 2000, has typically been fiercely defended by trade unions, while reforms to France's pension system have also faced widespread protests.

"Let's all work a bit more, collectively speaking, starting off by making sure that everyone respects the working hours that they have been given, in all sectors," Armand said.



France Signs Deals to Help Egypt’s Economy in Volatile Regional Climate

 Egypt's President Abdel Fattah al-Sisi (R) and French President Emmanuel Macron (L) attend the Egypt-France Business Forum, in Cairo, on April 7, 2025. (AFP)
Egypt's President Abdel Fattah al-Sisi (R) and French President Emmanuel Macron (L) attend the Egypt-France Business Forum, in Cairo, on April 7, 2025. (AFP)
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France Signs Deals to Help Egypt’s Economy in Volatile Regional Climate

 Egypt's President Abdel Fattah al-Sisi (R) and French President Emmanuel Macron (L) attend the Egypt-France Business Forum, in Cairo, on April 7, 2025. (AFP)
Egypt's President Abdel Fattah al-Sisi (R) and French President Emmanuel Macron (L) attend the Egypt-France Business Forum, in Cairo, on April 7, 2025. (AFP)

France and Egypt signed strategic partnership agreements on Monday, in areas covering health, transport and energy, which French President Emmanuel Macron said would help shore up Egypt's stability amid volatility in the region.

"Egypt is a strategic partner for our country," said Macron, speaking alongside Egypt's President Abdel Fattah al-Sisi at a news conference in Cairo.

"I would thus like to reaffirm France's commitment to ensuring the stability of Egypt given the context of a worsening climate in the region and as the Egyptian economy faces challenges," added Macron.

Macron said he continued to back talks between Egypt and the International Monetary Fund and the European Commission.

The IMF approved last month the disbursement of $1.2 billion to Egypt, which has been grappling with high inflation and shortages of foreign currency.

Macron added France's overseas aid development body would sign 260 million euros ($284.5 million) worth of loans and grants for Egypt in areas such as transport, health, water and energy.

Macron and Sisi also both reaffirmed their calls for a ceasefire to the fighting in Gaza and for the release of Israeli hostages.