France: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for France
July 30, 2010
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The French economy weathered global crisis better than most of its peers. The authorities have taken important policy actions to stabilize the financial system and have implemented suitable fiscal stimulus to cushion the downturn. Executive Directors welcomed the policy, which aims to strengthen the economy through fiscal consolidation, recovery of financial system, improving financial regulation, and also implementing structural reforms to raise potential growth, create jobs, and strengthen competitiveness. They stressed the importance of a multiyear budget framework to enhance the credibility of the consolidation effort.
Subject: Banking, Expenditure, Financial crises, Fiscal consolidation, Labor, Pension spending, Public debt, Unemployment
Keywords: accelerator effect, banking sector, CR, deficit, draft law, Europe, Global, government, ISCR, Pension spending, revenue floor, Southern Europe, stress scenario, stress test result, Tier 1, Unemployment
Pages:
62
Volume:
2010
DOI:
Issue:
240
Series:
Country Report No. 2010/240
Stock No:
1FRAEA2010001
ISBN:
9781455204748
ISSN:
1934-7685
