Arnaud Montebourg estimated on Tuesday that loans guaranteed by the State (PGE), assistance granted to companies during the Covid pandemic, had currently become “a machine to kill business”, defending “another method of using public money.”
According to the Public Bank of Bpifrance, which administers the PGE, there are about forty one billion euros for reimbursement, and expects about 3% of payment defects.
“Today, the State recovers through banks. Therefore, it sends companies to the carpet, since in fact, one cannot reimburse in five years,” said former Economy Minister Arnaud Montebourg, before the National Commission of the National Assembly of the National Assembly on the failures of the public authorities against the dismissal plans.
“And, therefore, the PGE are a machine to kill business at this time,” he said, saying that he had asked the Minister of the Economy, Éric Lombard, to carry the 10 -year refund period, a request that, however, clashes, according to Arnaud Montebourg, too “baking.”
Possible requirement to underline until December 31, 2026
Mainly distributed between 2020 and 2022, the PGE guaranteed 90% by the State allowed many companies to remain during the pandemic and recover their cash in advantageous conditions.
However, some are struggling to reimburse them. According to an agreement extended in January 2024, companies in difficulties wish to enter the PGE of those who benefited can do so until December 31, 2026.
“The State must change its work method and be present together with companies in heritage,” said Arnaud Montebourg, defending the support of “a background” to SMEs “in each department.”
“You have to imagine another method for using public money,” he said. If tens of billions of euros had been invested to the energy shield since the late 2021, “we would be rich, so France has projects that are not financed today.”
Source: BFM TV
