France: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France
IMF Staff Country Reports, September 21, 2017
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- Canonical URL
- France: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France
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Bibliographic details
- Published: September 21, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484320310.002
Overview
- Real GDP growth is projected to reach 1.6 percent in 2017 and 1.8 percent in 2018.
- The economic recovery is described as "picking up."
- Medium-term prospects will critically depend on the implementation of the reform agenda.
Growth drivers and drags
- Primary drivers of growth:
- Buoyant corporate investment.
- A rebound in residential construction.
- Solid consumer demand.
- Drag on growth:
- Net exports have been a drag on growth.
External position
- France’s external position is assessed to be weaker than implied by economic fundamentals.
Labor market
- Private sector job creation has begun to accelerate moderately.
- The unemployment rate has begun to recede moderately from its 10 percent post-crisis mark.
Key findings and emphasis
- Economic recovery momentum is uneven: domestic demand (investment, construction, consumption) is strengthening while external demand contribution is negative.
- Policy emphasis: implementation of the reform agenda is critical for medium-term prospects.
Source: France: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France, September 21, 2017.
Content in this bundle
- Country Report