IMF Staff Country Reports

France: Staff Report for the 2015 Article IV Consultation

Publication Date:

July 10, 2015

Electronic Access:

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Summary:

This 2015 Article IV Consultation highlights that a solid economic recovery in France is under way. The economy is expected to expand by 1.2 percent in 2015, supported by an accommodative external environment. Sharply lower oil prices, a depreciated euro, low interest rates on account of quantitative easing, and the recovery in other euro area countries should underpin household consumption, lift export growth, and eventually foster a rebound in investment. The fiscal strategy, set out in the current multi-year budget law and the 2015 Stability Program, aims to bring the headline deficit below 3 percent of GDP by 2017, with a gradual adjustment based exclusively on spending containment.

Series:

Country Report No. 2015/178

Subject:

Expenditure Inflation Labor Labor markets Prices Public debt Unemployment