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    Categories: Financial Blog

The rise of the French Economy with the help of Emmanuel Macron

France or “The City of Lights” has the sixth biggest economy in the world for 2017 and tenth judging by its purchasing power parity (PPP) figures. Their chemical industry has been their main specialty, which makes it the main driver of their economy. France has suffered a slow economic growth for the past years but somehow managed to revive itself through the help of Macron.

As the third largest economy in Europe, France has been suffering budget deficits, sluggish growth and high unemployment rate, compared to its neighbor countries United Kingdom and Germany which already surpassed these difficulties. It may be anemic in terms of economic growth but their gross domestic product (GDP) grew by 0.5 percent in the second half of 2017, in line with market estimations.

Emmanuel Macron on healing the French economy

Emmanuel Macron has been named the John F. Kennedy of France, whom also pledged to be the new broom that will clean up the country’s current mess. As a former economy minister of François Hollande, Macron argued that the economic health of France can be more competitive if it accepts free trade. As he quits the position last August 2012, Macron reinvented himself as a reformer with his new party En Marche!

On July 25 2017, the initial figures on the reform agendas of president Macron were released. It suggested the plans his administration to stabilize financial sector healing in France whilst reviving its economy. He promised to trim spending by €60 billion (64 billion in USD) per year.

Macron also pledged to reduce more than 120,000 government workers; he wouldn’t fire them but instead will not fill positions as employees retire. The country has been suffering years of unemployment which stands about 10 percent. Their dilemma is much worse for people ages 15 and 24.

Growth judging by numbers

Household consumption was 0.3 percent in Q2, higher compared to last quarter’s 0.1 percent. Government expenditure rose by 0.3 percent in Q2 versus last quarter’s 0.3 percent. Gross fixed capital formation, however, only advanced 0.5 percent versus last quarter’s 1.4 percent growth.

France or “The City of Lights” has the sixth biggest economy in the world for 2017 and tenth judging by its purchasing power parity (PPP) figures. Their chemical industry has been their main specialty, which makes it the main driver of their economy. France has suffered a slow economic growth for the past years but somehow managed to revive itself through the help of Macron.

As the third largest economy in Europe, France has been suffering budget deficits, sluggish growth and high unemployment rate, compared to its neighbor countries United Kingdom and Germany which already surpassed these difficulties. It may be anemic in terms of economic growth but their gross domestic product (GDP) grew by 0.5 percent in the second half of 2017, in line with market estimations.

Emmanuel Macron on healing the French economy

Emmanuel Macron has been named the John F. Kennedy of France, whom also pledged to be the new broom that will clean up the country’s current mess. As a former economy minister of François Hollande, Macron argued that the economic health of France can be more competitive if it accepts free trade. As he quits the position last August 2012, Macron reinvented himself as a reformer with his new party En Marche!

On July 25 2017, the initial figures on the reform agendas of president Macron were released. It suggested the plans his administration to stabilize financial sector healing in France whilst reviving its economy. He promised to trim spending by €60 billion (64 billion in USD) per year.

Macron also pledged to reduce more than 120,000 government workers; he wouldn’t fire them but instead will not fill positions as employees retire. The country has been suffering years of unemployment which stands about 10 percent. Their dilemma is much worse for people ages 15 and 24.

Growth judging by numbers

Household consumption was 0.3 percent in Q2, higher compared to last quarter’s 0.1 percent. Government expenditure rose by 0.3 percent in Q2 versus last quarter’s 0.3 percent. Gross fixed capital formation, however, only advanced 0.5 percent versus last quarter’s 1.4 percent growth.

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