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1st LD: French economy minister steps down to focus on political career

Xinhua, August 31, 2016 Adjust font size:

French Economy Minister Emmanuel Macron on Tuesday handed his resignation to President Francois Hollande "to devote himself to political movement," the presidency office announced on Tuesday.

In a communique, the Elysee added Finance Minister Michel Sapin, a close ally of Hollande, will handle the economic portfolio, which means that the government will maintain the same non-business policy to meet pledges of robust economy and lower jobless.

Macron's resignation is widely seen as the first step for the former investment banker to pave the way for a closer launch of presidential election bid.

Macron disclosed his political ambition after he created his own political movement "En Marche" (On the Move) in April, vowing to lead the movement "to 2017 and to victory".

The 38-year-old banker joined the Socialist cabinet in August 2014 to replace the ousted Arnaud Montebourg.

Macron, former Hollande's economic advisor, was one of main figures that forged the "Law on Growth and Activity" and "responsibility pact", flagship pieces of the government's roadmap to revive the sluggish growth and lower unemployment in one of Europe's main powerhouses. Endit