France: 2002 Article IV Consultation—Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

November 13, 2002

Preview Citation

Format: Chicago

France: 2002 Article IV Consultation—Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2002) accessed November 23, 2024

Summary

This 2002 Article IV Consultation highlights that the economy of France is facing a fast-approaching demographic turnaround—with the active population beginning to decline in 2007 and reducing annual per-capita-GDP growth by about half a percentage point for a few decades. In 2002, the general government budget deficit is expected to widen to 2.6 percent of GDP from 1.5 percent of GDP in 2001. The deterioration is in good part owing to the cyclical downswing but also to structural factors, in particular to the trend increase in social security spending.

Subject: Expenditure, Fiscal policy, Labor, Population and demographics

Keywords: Aging, Cost, CR, Deficit, Europe, Expenditure restraint, Fiscal consolidation, GDP elasticity, GDP growth, Government, Growth in volume, IMF staff estimate, ISCR, Labor markets, Product market reform

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2002/251
Stock No:

1FRAEA0032002
ISBN:

9781451813586
ISSN:

1934-7685

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