France announces €1 billion aid for farmers recovering from drought, heatwaves

France on Friday announced more than €1 billion ($1.16 billion) in aid for farmers after this summer's record heatwaves and droughts devastated crops, pastures and water supplies.

The support comes as the government ‌is working on a politically perilous budget ⁠for next year, with Paris seeking to keep the deficit under control ahead ‌of a 2027 presidential election.

"One billion euros represents a ⁠massive effort given the current budgetary context," Agriculture Minister Annie Genevard told reporters.

About half of the package – €520 million – will be sent out as rapid payments to ‌help farmers deal with weather damage, she said.

France's main farmers' union, the FNSEA, said farmers had already suffered at least €10 billion of ‌lost production. The livestock and arable sectors have already estimated their losses at more than €5 billion each.

"The immediate goal is to manage the emergency," Genevard said.

About 30,000 to 35,000 farms were in financial trouble, she said.

The aid plan also creates a €235 million recovery fund to help farms buy seeds, plant and animal feed after droughts left farmland parched. Further measures include land-tax relief, help with social-security payments and a fuel subsidy.

The finance ministry has said this summer's dry and hot weather could shave 0.1 percentage points off France's economic growth this year, mainly due to lost ⁠farming revenue.

Another heatwave is expected this week in the European Union's largest ⁠agricultural producer.

(FRANCE 24 with Reuters)