France: Staff Report for the 2015 Article IV Consultation

International Monetary Fund

No 2015/178, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2015 Article IV Consultation highlights that a solid economic recovery in France is under way. The economy is expected to expand by 1.2 percent in 2015, supported by an accommodative external environment. Sharply lower oil prices, a depreciated euro, low interest rates on account of quantitative easing, and the recovery in other euro area countries should underpin household consumption, lift export growth, and eventually foster a rebound in investment. The fiscal strategy, set out in the current multi-year budget law and the 2015 Stability Program, aims to bring the headline deficit below 3 percent of GDP by 2017, with a gradual adjustment based exclusively on spending containment.

Keywords: ISCR; CR; euro; uncertainty; heightened uncertainty; labor market rigidity; staff appraisal; staff projection; staff growth projection; Labor markets; Unemployment; Inflation; Global (search for similar items in EconPapers)
Pages: 68
Date: 2015-07-10
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