France gives farmers €1 billion to recover from record 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.