Tuesday, June 4, 2013

IMF to France: Focus on Growth…. Now!

From the NY Times: The shrinking French economy will resume growth in the second half of the year, the International Monetary Fund forecast Tuesday, but it urged France to focus on removing impediments to growth and to stimulate domestic demand.

 “Restoring external competitiveness remains a critical priority and should be complemented by developing domestic sources of growth,” the fund said in the concluding statement of its annual report on the French economy.

Though France should emerge from recession in the second half of the year, its gross domestic product will probably nonetheless show an overall decline of two-tenths of a percent in 2013 from a year earlier, the fund predicted. The French economy shrank in the final quarter of 2012 and the first quarter of 2013....

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