Stay the course. While the French government was forced this summer to revise down its ambitions to reduce the deficit, Christine Lagarde calls for further efforts. In an interview with the daily Les Echos published Monday, September 8, the Executive Director of the International Monetary Fund (IMF) represents:
“Keep the course of the reduction in public spending “
& gt; & gt; READ.” The public deficit will be higher than 4% of GDP “(Sapin)
Christine Lagarde added, rejecting an argument made by the Minister of Finance argument:
“Even if inflation is lower than expected, it can not be used as a screen to see the effort on spending. “
France should accelerate reforms, says the leader of the IMF, which has particularly welcomed the willingness of the government to legislate in Valls regulated professions. Christine Lagarde advised particularly to address, “throughout the euro area” to “shackles of labor regulations” .
The reform component it also seems even more important than the budget: instead of a possible delay in the return of the 2017 deficit below 3% of GDP, it expressed concern that “structural reforms that generate growth (are) really quickly and fully implemented “.
” When I hear that France is planning to move by ordinance to go faster, I am delighted. All that is likely to accelerate the implementation of real substantive reforms in the right direction, “she added, calling to Gouverment “move from words to deeds.”
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