IMF hails ‘ambitious’ French reforms programme under President Macron
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.
French President Emmanuel Macron