According to Le Maire, of these €16 billion, €11 billion will be spent to compensate for the increase in the cost of gas, another €5 billion will be sent to reimburse electricity bills.

Last week, the head of the French Ministry of Finance said that European countries are in for difficult times due to the continued rise in inflation and food and energy prices.

Earlier, on September 14, French Prime Minister Elisabeth Born announced that gas prices in the country next year will increase five times compared to 2021, the cost of electricity will increase tenfold.

In June, French government secretary Olivia Gregoire announced that the country was going to transfer money to French accounts in order to partially offset the record rise in food prices in the republic.