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2008 OECD Economic Outlook, Interim Report March 2009

image of OECD Economic Outlook, Interim Report March 2009

This interim OECD Economic Outlook analyses the current crisis and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2010 for both OECD and major non‑OECD economies. A particular spotlight is put on fiscal policy in a special chapter entitled The Effectiveness and Scope of Fiscal Stimulus. It addresses the following issues: How  governments in OECD countries changed the stance of fiscal policy in response to the crisis and What is the scope for additional fiscal stimulus in OECD countries to cushion the recession and help the recovery.

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France

Real GDP is projected to shrink by over 3% in 2009, with the pace of contraction gradually diminishing throughout the year. Improving credit conditions and policy stimulus at home and abroad will contribute to a recovery in 2010, although activity will remain subdued and fragile due to weak private-sector balance sheets. Inflation could fall to near zero by end-2010.

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