Don’t they say that fortune favors the bold…?
Apparently, Factor C (which everyone will interpret as they wish) hasn’t stopped assisting the new President of the Republic.
This time, it’s the Bank of France (BF) that’s at the origin: previously pessimistic about the country’s growth, it has raised its estimates.
They are now higher than those of the government and significantly above those from Brussels or the OECD.
One caveat: reforms must be implemented.
Until now, the Bank of France had estimated the country’s growth for 2017 at 1.4%, which is less than what the government hoped for (1.5%) but much more than the expectations of the IMF, the OECD, and Brussels (around 1.2%).
If growth is perhaps returning, it remains moderate and, above all, fragile: the Bank of France reiterated the necessity of carrying out structural reforms in the country; otherwise, the government’s main objectives cannot be achieved.
For example, according to the BF, it is impossible to reduce unemployment below 9% without reforms.
Economies are necessary to reduce the public spending rate, which is currently at 56% of GDP.
