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2019 OECD Economic Surveys: France 2019

image of OECD Economic Surveys: France 2019

France's economic growth has slowed down after a gradual recovery. Limited productivity and employment gains have reduced the growth of GDP per inhabitant; public spending remains very high. Reducing public expenditures is needed to put debt on a firmly declining path. This and streamlining the tax system would also help reducing taxes, which would boost economic activity eventually. Continuing to foster a more flexible labour market would lead to higher productivity growth and living standards. The unemployment rate is particularily high for low-skills, and young and older workers: higher skills and better education outcomes would support a more inclusive labour market and intergenerational mobility. The quality of the public capital stock is high in France: improving its maintainance would strengthen this asset. New investment should help drive the economy towards greener growth – in particular investments in energy and transport – and more digitalisation. This should be achieved by applying rigourous cost-benefit analyses even more widely.

SPECIAL FEATURES: LABOUR MARKET PERFORMANCE; PUBLIC INVESTMENT

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Basic statistics of France, 2018

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of France were reviewed by the Committee on 18 March 2019. The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 29 March 2019.The Secretariat’s draft report was prepared for the Committee by Antoine Goujard and Pierre Guérin under the supervision of Pierre Beynet. The Labour Market Chapter also benefitted from contributions by Stéphane Carcillo, Alexander Hijzen and Stefan Thewissen. Statistical research assistance was provided by Patrizio Sicari and editorial support was provided by Sylvie Ricordeau. The previous Survey of France was issued in September 2017.

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