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Containment: record-gathering in April for the Booklet Has, at close to 5.5 billion euros

The Booklet Was experienced in the month of April a record collection of close to 5.5 billion euros, according to figures published Wednesday by the Caisse des dépôts, this phenomenon, reflecting the fall in consumption caused by containment measures.

read also : The flight of the collection of the booklet in march concerned about Bruno Le Maire

In April, the net collection on the Booklet, investment very popular in France, has reached 5.47 billion euros, compared to 2.71 billion in march. A year earlier, it amounted to a little less than two billion. This situation, already noticed in march, had alarmed the government. "This is not the savings we need today for our economy, but investment", stated the minister of Economy and Finance Bruno Le Maire.

The net collection in the month of April, is breaking records. Le Figaro

The collection on the Booklet of sustainable development and solidarity (LDDS) has also reached a monthly historic $ 1.93 billion euros. In total, the net collection on the Livret A and the LDDS together, investments both tax exempt, is $ 7,39 billion euros in April. In total for the first four months of the year since January, it has reached more than 17 billion euros. At the end of April, the total outstanding amount of savings placed on these two products reached 428,2 billion euros.

The collection of the LDSS is also reaching record highs in April. The FigaroEpargne forced and concerns

This is a level never reached since the previous crisis (...) three times more than in the month of April 2019," said Wednesday morning, Eric Lombard, director-general of the Caisse des dépôts, at a hearing in front of the committees to the senate. This improvement is not the result of a competitive compensation rate : the rate of remuneration Booklet A, and the LDDS has been lowered in February from 0.75% to 0.5%, its lowest historical level.

"The French have spared him because they could not spend, and this lack of spending of course weighs on the economy," he estimated. This enforced savings is is added to other savings, voluntary this one, placed in reserve by some of the households concerned. "Today, we estimate the savings of the French, to 40% of their income," stressed the director general of the Caisse des dépôts, adding "the sooner it [is clear] (...) to finance consumption and investment, the better it [would be]".

", But in the meantime, this savings is not sleeping, she is fully used to support our economy: the business of funding social housing continues, the activity of local authority funding increased significantly, and increasingly, we're going to use it", has detailed the number a of the Caisse des dépôts.

Use "extended" of the fund

"We are very supportive of the idea (...) that the use of these funds could be expanded to be more useful and more effective in this time of crisis", he defended in front of the senators. Eric Lombard joins the remarks made in mid-April by the minister of the Economy Bruno Le Maire, who wanted to see investment and not savings to boost the economy.

"The month of April will remain in the annals of the savings French. (...) Despite their low performance, the Libretto Has and the LDDS are the winners of this very particular time savings realized," responded in a note to Philippe Crevel, director of the Circle of savings, the cabinet of reflection on the saving and its regulation. More generally, "the increase in precautionary savings has been observed during every crisis since 1973," notes the analyst.

"collection of the month of April 2020, is a collection of waiting, but also of caution. In a context that is more than uncertain, households have decided to strengthen their savings liquid in order to cope with any short-term problems. Among the concerns are obviously health but also the risk of loss of employment or income," he explains. According to him, "in the light of the previous crises, the decline in precautionary savings will be gradual and may not be total, all the more that the return to the normal announcement length. Fears of a long economic crisis are prompting households to maintain a strong liquidity cushion".

SEE ALSO Booklet A: The Mayor is pointing to a "risk" that the "behavior of caution prevails" at the time of recovery

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