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POLITICS

France hails COP28 deal as ‘victory for nuclear power’

France on Wednesday said a climate agreement reached at COP28 was a victory including for its endorsement of nuclear power, of which Paris is a major advocate.

Published: 13 December 2023 10:31 CET
France hails COP28 deal as 'victory for nuclear power'
French Minister for Energy Transition Agnes Pannier-Runacher. Photo by Geoffroy Van der Hasselt / AFP

“The COP28 agreement that has just been adopted is a victory for multilateralism and climate diplomacy,” French Energy Minister Agnes Pannier-Runacher said in Dubai.

“Now we need to put in place a plan to exit fossil fuels and we will be attentive to this,” she said.

She praised the inclusion of nuclear energy, which is carbon-friendly but has long raised other concerns among environmentalists including on waste disposal and risks of accidents.

“For the first time, the text at several points mentions the contribution of nuclear energy in the fight against climate change. This is a historic recognition and a diplomatic victory for France,” she said.

READ ALSO Why is France so obsessed by nuclear power?

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ECONOMY

French economy beats growth forecast in first quarter

The French economy grew more than expected in the first quarter, official data showed on Tuesday, delivering good news to a government facing scrutiny over the country's huge debt pile.

Published: 30 April 2024 08:36 CEST
French economy beats growth forecast in first quarter

The eurozone’s second biggest economy expanded by 0.2 percent between January and March compared to the previous quarter, according to the INSEE statistics institute, which had previously forecast zero growth.

“To all those who want us to believe that our economy is at a standstill: facts are stubborn. French growth is progressing,” said Economy Minister Bruno Le Maire.

“This is a new sign showing the solidity of our economy,” he said, adding that the “government’s strategy is paying off.”

France’s budget deficit has overshot government estimates, undermining President Emmanuel Macron’s pledge to bring national finances back on track within the next four years.

Ratings agencies have cast doubt on the government’s debt reduction target.

The public deficit widened to 5.5 percent of gross domestic product in 2023. The government aims to reduce it to three percent by 2027.

READ MORE: How France’s bid to tackle ‘wild’ budget deficit could impact you

French debt has grown to 110.6 percent of GDP — the third biggest ratio in the European Union after Greece and Italy.

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