(l to r) The Secretary of State for Thierry Mandon Simplification, the Economy Minister Emmanuel Macron and Labour Minister François Rebsamen the Elysee January 5, 2015 (AFP / File / Patrick Kovarik)
Fifth or sixth place in the ranking of world economic powers? No matter in the end, more experts to ensure that France and the UK have similar economies, doomed to alternate in this hierarchy.
The daily Le Figaro rang the kill on Wednesday grading relegated to sixth place in the hexagonal economy in 2014, and Twitter was buzzing derogatory remarks about this new blow for the government.
“There is a very important growth differential” between the two countries, recognized the Secretary of State for Thierry Mandon Simplification on Radio Classique and LCI. “They may have a political pro + business + that has been slow to develop in France.”
But do not see him as a sign of decline, “it For years we made a match with the English. “
According to estimates by the European Commission from November, times by the BBC, the UK would have been recorded 2.232 billion euros of Gross Domestic Product in 2014 against 2.134 billion for France
But this is not the first time that the UK dethrones France. over the last twenty years as the European office of Eurostat statistics, London to Paris was from 1998 to 2007.
comparable population, similar industrial structure, similar living standards, “it is so close that it is enough that inflation is a little different or the euro and the pound differ slightly, to change the ranking, “said the economist Eric Heyer of the French Economic Observatory (OFCE), for whom” we remain within the margin of error. “
– Pound sterling against the euro –
In 2014 in this case, the conditions were slightly more favorable in the UK
The pound is d. a popular share of about 6.5% against the euro in 2014, which automatically inflates GDP expressed in the common currency.
The statisticians also revised their calculations based on new criteria and updated data, told AFP Ronan Mahieu, head of the department of national accounts at INSEE. The GDP of all countries have benefited but the UK (around additional € 100 billion) more than France (60 billion).
The British Finance Minister George Osborne in London January 5, 2015 (AFP / File / Andrew Cowie)
The British notably decided to incorporate in their calculations the resources generated by drug trafficking and prostitution. If INSEE has included certain activities related to the sex trade, it did not include revenue from the streets of prostitutes and drug trafficking, said Ronan Mahieu.
The inflation, even if it is not stupendous UK (+ 1.00% in November) is also higher than in France (+ 0.3%), highlighting the difference between the two countries.
“What is true is that the increase in wealth is much more dynamic time in the UK than in France, but we did not need the scoop this morning to find out, “said Eric Heyer.
The British economy is expected in 2014 growth of 2.6%, against only 0.4% for France.
But in the end, “everything depends on what you want to measure. If this is the wealth of the inhabitants of a country, it must be based on the purchasing power, level of life, “says Eric Heyer.
So as a measure of national wealth so-called purchasing power parity (PPP) published by the International Monetary Fund, China overtook the United UNite its world’s biggest economic power in 2014.
“After all, taking a broader perspective, one might note that being the sixth (or fifth in the line thickness) global economy when it was the 20th World population is a good performance “for France, said on his blog Alexandre Delaigue, professor of economics at the French school of Saint-Cyr.
“Ultimately, the economic catch-most populous countries that France should make us fall further in the standings – Brazil, in particular, could soon overtake us and overtake Britain,” the expert .
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