IMF hails ‘am­bi­tious’ French re­forms pro­gramme un­der Pres­i­dent Macron

Muscat Daily - - BUSINESS -

Paris, France - The In­ter­na­tional Mon­e­tary Fund (IMF) on Mon­day hailed French Pres­i­dent Em­manuel Macron’s ‘am­bi­tious’ re­form pro­gramme, say­ing his spend­ing cuts and tax over­haul could ‘go a long way in ad­dress­ing... long­stand­ing eco­nomic chal­lenges’.

The IMF raised its 2017 growth pre­dic­tion for France by 0.1 points to 1.5 per cent and said it could ‘fur­ther ac­cel­er­ate’ next year.

‘The new gov­ern­ment is push­ing ahead with an am­bi­tious eco­nomic pro­gramme to make France’s econ­omy more dy­namic and its pub­lic fi­nances sus­tain- able’, the IMF said af­ter its an­nual anal­y­sis of the French econ­omy.

‘The en­vis­aged labour and tax re­forms are aimed at boost­ing growth, em­ploy­ment, and com­pet­i­tive­ness’, it added.

It also said the cen­trist gov­ern­ment un­der 39 year old for­mer banker Macron ‘has rightly em­pha­sised’ the need to de­crease pub­lic spend­ing.

The IMF said such a move ‘would help grad­u­ally re­duce the bud­get deficit and debt’.

The gov­ern­ment has pledged to meet the EU deficit limit of three per cent of GDP in 2017, a target France has missed for the past decade.

The gov­ern­ment said last week it had iden­ti­fied € 4.5bn in sav­ings in or­der to meet the goal.

(AFP)

French Pres­i­dent Em­manuel Macron

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