Report

Committee on the monitoring and evaluation of financial support measures for companies confronted with the Covid-19 epidemic - Progress report

The Committee on the Monitoring and Evaluation of financial support measures for companies confronted with the Covid-19 pandemic was created by Article 6 of the First Supplementary Budget Act of March 23rd 2020. Chaired by Benoît Cœuré, former member of the Executive Board of the European Central Bank, it includes representatives from the Finance Commissions of the National Assembly and the Senate, associations of regions, departments, and mayors of France, employer and trade union representative organisations, the Court of Auditors, and administrations (Directorate General for Public Finances and Directorate General of the Treasury). The committee’s secretariat is ensured by France Stratégie and the Inspection Générale des Finances.

Published on : 20/04/2021

Temps de lecture

2 minutes

The Finance Law for 2021 acknowledges the extension of the health crisis and postponed the deadline for the submission of the committee’s final report to July 2021 (instead of March 2021). The committee deems it useful to publish a progress report highlighting the knowledge accumulated after one year of the pandemic. This progress report remains very technical and limit itself mainly to the monitoring of the measures, while the health crisis is still ongoing. The report is not binding on the committee members.

The committee’s scope of expertise has been enriched with the successive finance laws, to now cover 17 support measures for businesses. The analyses covered in this progress report focus primarily on the four main measures – partial activity (or furlough), the Solidarity Fund, state-guaranteed loans, and the deferral of social security contribution– which mobilised 206 billion euros as of the end of March 2021, i.e. 9% of the French GDP. The initial finance law for 2021 also entrusts the Committee with evaluating the recovery plan starting as of April 2021. The first report in this regard is due in October 2021.

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