## France: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France

_IMF Staff Country Reports, September 21, 2017_

## Source details

**Canonical URL:** [France: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for France](https://www.imf.org/en/publications/cr/issues/2017/09/21/france-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45270)

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## Bibliographic details
- Published: September 21, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484320310.002

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### 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.*

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr17288.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr17288.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2017/09/21/france-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45270_