"Once again, France is on the move, France is moving in the right direction," French Economy Minister Christine Lagarde has said, at the same time pointing out that even the International Monetary Fund (IMF) had acknowledged this fact.
The minister made the remarks Monday when she took to the floor of the senate to introduce the controversy-ridden bill on the modernization of the economy, one of the key pillars in President Nicolas Sarkozy's reform agenda.
After much acrimony and tense debate, the bill, which has been described as insensitive to small-scale retailers by a section of French lawmakers, was adopted by the lower house of parliament during the first reading.
"Much work has already been done. France is on the move and even the IMF has recognized this... I am happy to say in front of the children who are here to witness parliamentary proceedings from the public gallery," the minister was quoted as telling senators.
During the World Economic Forum held in Davos, Switzerland, in January, French Prime Minister Francois Fillon had used the same expression "France is on the move" to describe the situation of the country's economy since Sarkozy was elected head of state over a year ago.
In her remarks opening debate into the proposed law, the economy minister was quick to draw attention to the healthy state of the country, insisting "our economy remains resilient in a difficult international context."
"I have good news," said the minister, noting that the economy had created "a total of 70,700 jobs in the first quarter, consumption of manufactured goods was up 2 percent in May while credit to enterprises was very dynamic," having grown to 15.5 percent in April from 15.4 percent in March.
"Timidly, the virtuous circle of activity and consumption has started," she said, before attributing the success to sound economic policies implemented by the government.
In this framework, "the new law is intended to achieve two essential objectives by helping create more businesses and enhance competition," said the minister, adding that this is expected to lead to three concrete results: "more growth, more employment and increased purchasing power."
"We are determined to blow a wind of freedom on our economy," said the economy minister, before calling on the French senators to debate the new bill "objectively and without being carried away by emotions."
Urging parliamentarians to move with speed to conclude debate on the bill, Lagarde was quoted as saying that the new law was expected to be "fully operational on January 1 2009."
In an attempt to bring down runway commodity prices, spur growth and create more jobs, the law introduces an entire arsenal of measures to ease of creation of new superstores, use of high-speed Internet for micro-enterprises..., said the minister.
Source:Xinhua
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