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10th April 2018 – France To Cut Debt Faster
French government took more income in tax than expected. Extra tax income from faster global economic expansion is bonus. France intends to use windfall to pay down debt faster. It will cut its budget deficit faster.
French economy is now forecast to grow faster at 2 percent. As a result the budget deficit will be 2.3 percent not 2.6 percent. Undershooting budget deficit gives government more money than planned.
3rd April 2018 – France Manufacturing Growth Slows In March
French manufacturing grew in March at the slowest pace in a year according to IHS Markit Purchasing Managers Index.
26th March 2018 – French Deficit Below 3 Percent Of GDP
France has lowered its annual public deficit below the European Union’s EU 3 percent limit for the first time in a decade. It could have complied this key EU limit by reducing public sector spending but chose to defy the EU rules for a decade.
Not sure other smaller less powerful EU economies would have been allowed to defy the EU rules for so long? Weaker southern Eurozone countries should be more worried about changes France and Germany could bring in soon to control what is perceived in the north of Europe has reckless overspending not that France is no longer recklessly overspending.
France’s public spending deficit was 2.6 percent GDP in 2017, its best compliance since 2007. Much of the improvement in France’s performance is actually down to global economic growth bringing in higher tax receipts rather than significant cuts in public spending. They say its better to be a lucky politician than a competent one.
20th March 2018 – French Government Wants To Encourage People Into Work With Penalties For Not Looking For Job
The French government plans to tighten controls of the unemployed and increase penalties against those people who don’t look for a job hard enough.
Jobseekers in France will be monitored more over the coming years and if they don’t work hard at finding a job they will be punished. The French government wants to make unemployment benefits “fairer and more efficient”.
8th March 2018 – France May Boost Public Sector Spending
Joel Giraud, who is in charge of steering new budget legislation through the lower house of parliament, told Les Echos newspaper that France’s budget deficit was likely to come in at 2.7 percent of GDP compared to government target of 2.9 percent of GDP. If this is the case it will mean France has room to spend more in the public sector.
Much of this good news is down to faster economic growth rather than France getting to grip with its debt and borrowing.
27th February 2018 – France’s Banque Postale To Launch Online Bank 2019
French state-owned Banque Postale, part of the French postal service, plans to launch an online bank in spring of 2019. French consumers and businesses will be able to access account’s via mobile phone or post office.
15th February 2018 – French Unemployment Falls Below 9 percent
France’s unemployment rate fell below 9 percent for first time since 2009. France’s unemployment rate fell to 8.9 percent in the fourth quarter of 2017, from 9.6 percent in the third quarter, according to national statistics office INSEE.
13th February 2018 – French Job Growth Returns To Pre-Financial Crisis Levels
According to the INSEE statistics agency, employment growth has now returned to levels not seen since before the financial crisis 2007-08.
Although job creation in France has increased, unemployment has not not dropped below 9 percent for 6 years.
30th January 2018 – France Strongest Annual Growth Since 2011
France’s economy grew 1.9 percent in 2017.
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