France: Staff Report for the 2005 Article IV Consultation

Volume/Issue: Volume 2005 Issue 399

Publication date: November 2005

ISBN: 9781451813678

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , spending , authority , price distortion , scenario , director , structural adjustment , headline inflation , GDP deflator , product market , job creation , product market reform , Labor markets , Employment , Unemployment , Global

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Summary

This 2005 Article IV Consultation highlights that the cyclical recovery of the French economy was interrupted in the first half of 2005, as previously strong domestic demand faltered and the external sector continued to exert a drag on growth. In 2004, growth was faster and more consumption-driven than in other large euro area countries. Employment growth in hours, increases in minimum wages, and some fiscal measures supported private household incomes. The 2006 draft budget targets a reduction in the general government deficit to 2.9 percent of GDP.