IMF bumps French GDP forecast, cheers planned reforms

Author: Adam Button | Category: News

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%.