French president announces minimum wage rise

By Yusuf Ozcan

PARIS

French President Emmanuel Macron on Monday announced a minimum wage rise in the country following weeks of civil unrest.

In a televised address to the nation, Macron promised an increase of €100 in monthly minimum wage as of 2019.

The French president also said that taxes on overtime pay would be abolished as of next year.

He also announced social security tax cuts for pensioners earning less than €2,000.

Since Nov. 17, thousands of protesters have been gathering in major French cities including Paris to protest Macron's controversial fuel tax hikes and the deteriorating economic situation.

The demonstrators, who generally live in rural areas due to high rents in the cities, have called on Macron to cut fuel taxes and ease their economic difficulties.

According to a recent survey, 84 percent of the French people -- mostly from the middle-income group -- support the protests.

Fuel prices in France have risen more than 20 percent this year.