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Yellow Vest protests cost France USD 2.75 billion

ANI  |  Europe 

France has lost USD 2.75 billion over the yellow vest protests, which started exactly a year ago.

In last one year, around 75,000 French citizens working in hotel, restaurant, transport and trade industries have become partially unemployed, Sputnik reported citing French RTL radio station on Friday.

Due to the damages caused by protests, insurance companies had to pay 230 million euros in compensation to 13,000 "looted" enterprises.

The protest was triggered by the hike in fuel prices. The agitation is characterized by protestors donning the "gilets Jaunes", the yellow fluorescent vests.

The French government has since rolled back its plan to increase fuel taxes, with President Emmanuel Macron announcing a minimum wage hike of 100 euros per month for the people of the nation, as part of his "economic and social emergency plan".

However, the demonstrators have continued with their protests. There have been calls of Macron's resignation over his move.

The Yellow Vest protests have claimed the lives of 11 people and has led to over 2,000 people being wounded till September, according to the French government.

More than 8,000 people have been arrested since the demonstrations began and 2,000 others were sent to custody.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 15 2019. 17:09 IST
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