IMF calls for France’s ‘fiscal policy’

IMF urges France to “fiscal policy” The International Monetary Fund (IMF) has published a report on the financial situation of France, which has spent billions of dollars to rescue businesses and households affected by the energy crisis. In a report asking France to review its financial position and consolidate its economy from early 2023, France spent more than 2 percent of GDP in a year due to electricity and gas price freezes, energy checks, fuel rebates. and the support given to companies reminded him. The report notes that government support for “whatever is necessary” to prevent unemployment and business closures is a heavy burden on the state budget, which has been hit hard by the COVID-19 pandemic. “Supporting the two crises and the weakening of the epidemic requires France to consolidate its public budget for 2023.” The said report indicated that instead, Paris has postponed cutting its budget deficit until 2024. He left his growth forecast for 2023 at 0.75 percent. The report says the government expects a 5 percent government deficit next year after a 4.9 percent budget deficit this year. it to 3 percent. The report, which noted that the IMF left its growth forecast for 2023 at 0.75 percent due to the extension of energy measures and tax cuts applied to companies, also mentioned that deferral of energy support and tax cuts would significantly reduce the budget deficit. . The report also recommends that the IMF focus on lowering the retirement age, completing unemployment reform, modest spending, including on fossil fuels and housing, and structural reforms in public services.

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