France : Staff Report for the 2003 Article IV Consultation

Journal Issue

Volume/Issue:: 2003/334
Series:: IMF Staff Country Reports
Author(s):: International Monetary Fund
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: October 2003
DOI:: http://dx.doi.org/10.5089/9781451813456.002
ISBN:: 9781451813456
ISSN:: 1934-7685
Page:: 44

Over the past several years, implementation of IMF recommendations has been lacking not so much in intention as in pace and timing owing to political economy considerations and a strong social preference for publicly provided services. The discussions focused on how to foster a durable economic recovery while tackling long-standing threats to fiscal sustainability. The authorities were attentive to the possible adverse short-term effects of underlying fiscal adjustment on growth. The authorities acknowledged that containing health care spending growth would be a key challenge.

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France: 2003 Article IV Consultation--Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion