France Has ‘Unique Window Of Opportunity’ To Reform: IMF

www.oann.com | 10/9/2016 | Staff
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PARIS (Reuters) – France has a “unique window of opportunity” as growth picks up to tackle its weak public finances and high unemployment while reversing its decline in competitiveness, the International Monetary Fund said on Monday.

The IMF said after its annual country review the new French government’s plans to focus on cutting spending was “appropriate” and also deemed its push to make its employment laws more flexible as “broad and ambitious”.

President - Emmanuel - Macron - Plans - Tax

Meanwhile, President Emmanuel Macron’s plans to gradually cut corporate tax to 25 percent from 33.3 percent while setting a flat 30 percent tax on capital income would make France more competitive while boosting investment, IMF staff wrote in the conclusion of their review, known as an Article IV mission.

“With a strong political mandate and economic conditions improving – growth is on track to reach 1.5 percent this year and further accelerate next year – there is now a unique window of opportunity for such a bold and comprehensive economic reform package,” the IMF...
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