IMF bumps French GDP forecast, cheers planned reforms
Everyone suddenly loves France
Comments from the IMF in the Article IV review
- Sees 1.5% growth this year compared to 1.4% previously
- Says growth will 'further accelerate' in 2018 versus 1.6% prior forecast
- Macron's strategy for labor market reform is 'broad and ambitious', should be complemented by continued wage moderation
- Plans to reduce public spending and allow gradual fiscal consolidation and tax relief are appropriate
Wait, I thought we were trying to get wages higher?
Macron plans to cut the corporate tax rate to 25% from 33.3%.