France Urged to Extend Work Hours for Economic Revival

French Finance Minister Antoine Armand advocates for increased working hours to boost economic growth amid lower tax contributions. He highlights France's shorter work hours compared to European counterparts. The government aims to reduce the public deficit and faces trade union resistance to potential reforms.

France's Finance Minister, Antoine Armand, has urged the nation to increase its working hours, stating that the current shorter workweek is negatively impacting the country's economy. According to Armand, French citizens work less than other Europeans, resulting in lower tax revenues and social security contributions, which restrain economic growth.

In a statement on C News TV, Armand highlighted that fewer working hours have tangible consequences, including reduced funds to support France's social models and a weakened ability to create jobs. The government is contemplating reforms to accelerate economic growth despite expected opposition from trade unions.

France, which ranks as the eurozone's second-largest economy, aims to reduce its public deficit to 5% of GDP by 2025. However, the longstanding 35-hour workweek, established in 2000, remains a union stronghold, complicating these efforts alongside contentious pension system reforms.

(With inputs from agencies.)