The International Monetary Fund Welcomes "Ambitious" Reforms by Macron

The International Monetary Fund welcomes the "ambitious" reform program of French President Emmanuel Macron. They write that the planned steps may be "the right way to respond to long-term economic challenges in the country."

"The new government is advancing an ambitious economic agenda to make the French economy more dynamic and its public finances sustainable," said The IMF, following its annual analysis of the French economy.

"The planned labor and tax reforms have excellent perspective to boost growth, employment and competitiveness," the report said. And the 39-year-old former banker "rightly emphasizes" the need to cut public spending, and such a step "will help to gradually reduce the budget deficit and debt."

Paris pledged to fit into the EU deficit of 3.0% of GDP in 2017 - a goal France has not achieved over the last decade. The government announced last week that it has provided 4.5 billion euros of savings in this quest. At the same time, the IMF raised its growth forecast for France by 2017 by 0.1 percentage points to 1.5% and said growth could be accelerated as early as next year. / TASS

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