Paris: French President Emmanuel Macron has decreed a "state of social and economic emergency", offering a string of generous sweeteners he hopes will quell a month-long gilets jaunes ("yellow vests") revolt that has left his presidency on the ropes.

French President Emmanuel Macron before a special address to the nation, his first public comments after four weeks of nationwide 'yellow vest' protests. Credit:AP

In a pre-recorded national address on Monday night, Paris time, Macron said France was at a "historic juncture", and issued a mea culpa saying: "I know that I have managed to wound some of you through my comments."

"We will respond to the economic and social urgency with strong measures, by cutting taxes more rapidly, by keeping our spending under control, but not with U-turns," Macron said.

Acceding to several key demands of the "yellow vests", the President pledged to raise the minimum wage by €100 ($158) per month from 2019 without cost to employers. Overtime would be free of tax and charges, he said, while businesses that gave end-of-year bonuses would pay no extra tax or charges.