Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

France to Simplify Spending Cuts, says IMF


September, 22 2017
watermark Economic news

The International Monetary Fund (IMF) stated yesterday that France should not waste time in preparing detailed plans for the restoration of its economy. Christian Mumssen, director of IMF France, announced that the organization will check the government budget for 2018 next Wednesday, which is the first time under Macron’s leadership, further details will be scrutinized, particularly, the reduction of taxes and expenditure.

According to the French government, the spending will be cut down to 16 billion euros ($19 billion) for 2018 which serves as an initial installment for the savings over the five-year term of President Macron amounted to 60 billion euros. But the administration also urges to work on easing the country’s burden of considerable tax by reducing tax by 10 billion euros ($11 billion), initially.

The government finds it difficult to ease the budget balancing act, but they can rely on its strongest growth recorded last 2011. While the IMF forecasted that the economy has the tendency to gain 1.6 percent in 2017 and 1.8 percent for next year. Moreover, the national budget will be based on the growth outlook for this year and the next.

The Fund seems quite pessimistic regarding the projections on the public sector deficit, for it might remain at 3.0 percent for 2017 and 2018. On the other hand, the government predicted that the deficit for this year is expected at 2.9 percent and 2.6 percent in 2018.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.