France: 2002 Article IV Consultation—Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
November 13, 2002
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
This 2002 Article IV Consultation highlights that the economy of France is facing a fast-approaching demographic turnaround—with the active population beginning to decline in 2007 and reducing annual per-capita-GDP growth by about half a percentage point for a few decades. In 2002, the general government budget deficit is expected to widen to 2.6 percent of GDP from 1.5 percent of GDP in 2001. The deterioration is in good part owing to the cyclical downswing but also to structural factors, in particular to the trend increase in social security spending.
Subject: Expenditure, Fiscal policy, Labor, Population and demographics
Keywords: Aging, cost, CR, deficit, Europe, expenditure restraint, Fiscal consolidation, GDP elasticity, GDP growth, government, growth in volume, IMF staff estimate, ISCR, Labor markets, product market reform
Pages:
42
Volume:
2002
DOI:
Issue:
251
Series:
Country Report No. 2002/251
Stock No:
1FRAEA0032002
ISBN:
9781451813586
ISSN:
1934-7685
