French Lobby Calls for Budgetary Responsibility Before Elections

(Bloomberg) -- A French business lobby said the approaching snap legislative elections are crucial for the economic future of the country and called for openness and stability.

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Afep, as the group is known, warned in a statement Monday that international isolation and irresponsible budget decisions would put France’s economic growth and employment at risk.

The vote will “determine the capacity of major companies and their millions of employees to continue their development, innovate and maintain jobs and purchasing power, thus contributing to the prosperity of our country,” said the group, which represents companies such as LVMH Moët Hennessy Louis Vuitton SE and TotalEnergies SE.

Afep didn’t endorse any political party ahead of the two rounds of voting, which are scheduled for June 30 and July 7.

The far-right National Rally led by Marine Le Pen would win 35% of the votes in the first round, beating the far-left Popular Front with 26%, a poll for Le Journal du Dimanche by Ifop showed Sunday. President Emmanuel Macron’s Renaissance party would place third.

The companies represented by Afep employ some 2.1 million workers in France.

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