the economic cost of the crisis finally amounts to… – L’Express

Macron claims to suspend the contested electoral reform – LExpress

The riots and the serious crisis caused in New Caledonia by the electoral reform rejected by the separatists have cost at least 2.2 billion euros, reveals the latest estimate made by the local government. According to a document that AFP was able to consult, the government chaired by the separatist Louis Mapou estimates the bill for the unrest at 1.2 billion euros for the private sector, and 1 billion more for public infrastructure.

READ ALSO: Financially, New Caledonia is at a crossroads

The violence, which broke out on May 13 after Parliament voted on electoral reform, has left nine dead and caused considerable damage, according to the latest figures from the authorities. In total, 700 private companies have been set on fire, looted or vandalized, the government said.

250 million euros of aid already paid

On the public side, 19 schools went up in smoke, as well as several media libraries, technical premises or offices, for a total of 385.3 million euros, the government added. In addition, total or partial unemployment could affect some 24,000 people, or more than one in four employees in the French territory of the South Pacific, according to the institution, which estimates the cost of its financing at 234.5 million euros over the year.

READ ALSO: New Caledonia, the story of thirty months of spiralling: misunderstandings, betrayals and appointments

As for the bill for losses in tax revenue, social security contributions and customs duties linked to the destruction of the economic fabric, it is estimated at 364.4 million euros.

New Caledonia has already received more than 250 million euros in state aid to help it cope with the crisis, the High Commission of the Republic announced on Tuesday, July 2. Local elected officials and employers’ representatives have already expressed concern about the inadequacy of this aid.

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