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Cover -- CONTENTS -- CONTEXT: LOWER GROWTH AMID RISING RISKS -- A. Recent Developments -- B. Outlook and Risks -- POLICIES: SAFEGUARDING SUSTAINABILITY, INCLUSIVE GROWTH, AND RESILIENCE -- A. Fiscal Policy: Safeguarding Sustainability -- B. Structural Reforms: Supporting Inclusive Growth -- C. Financial Sector: Strengthening Resilience -- STAFF APPRAISAL -- BOXES -- 1. Policy Responses to the Gilets Jaunes Protest -- 2. Planned Fiscal Structural Reforms -- 3. Recent Efforts in Tackling Corruption and Supply-Side Bribery -- FIGURES -- 1. Real Sector Developments -- 2. Labor Market Developments -- 3. External Sector -- 4. Financial Sector -- TABLES -- 1. 2019 Key FSAP Recommendations -- 2. Selected Economic and Social Indicators, 2015-24 -- 3. General Government Accounts, 2015-24 -- 4. Balance of Payments, 2015-24 -- 5. Vulnerability Indicators, 2010-18 -- 6. Core Financial Soundness Indicators, 2013-18 -- 7. Encouraged Financial Soundness Indicators, 2013-18 -- ANNEXES -- I. Authorities' Response to Past IMF Policy Recomendations -- II. External Sector Assessment -- III. Risk Assessment Matrix -- IV. Debt Sustainability Analysis (DSA) -- V. Taking Stock of Inequality in France -- VI. Benchmarking Spending Reforms in France -- CONTENTS -- FUND RELATIONS -- STATISTICAL ISSUES.

a This report on France contains a survey of the main barriers to employment for young people, an assessment of the adequacy and effectiveness of existing measures to improve the transition from school-to-work, and a set of policy recommendations for further action by the public authorities and social partners.--Publisher's description

Cover -- CONTENTS -- CONTEXT: A ROBUST RECOVERY -- OUTLOOK: POSITIVE PROSPECTS AMID GROWING RISKS -- THE POLICY AGENDA: GROWTH, JOBS, RESILIENCE -- A. Structural Reforms: Supporting Employment and Competitiveness -- B. Fiscal Policy: Credibly Reducing Spending and Public Debt -- C. Financial Sector Policies: Bolstering Private-Sector Balance Sheets -- STAFF APPRAISAL -- BOXES -- 1. Estimating France's Output Gap -- 2. Inequality and Labor Market and Fiscal Policies in France -- 3. Large Fiscal Consolidations: How Successful Have They Been? -- FIGURES -- 1. High Frequency Indicators -- 2. Labor Market Developments -- 3. External Sector -- 4. Corporate Debt -- 5. Banking Sector: Key Indicators -- TABLES -- 1. Selected Economic and Social Indicators, 2014-23 -- 2. General Government Accounts, 2014-23 -- 3. Balance of Payments, 2014-23 -- 4. Vulnerability Indicators, 2010-17 -- 5. Core Financial Soundness Indicators, 2012-17 -- 6. Encouraged Financial Soundness Indicators, 2012-17 -- ANNEXES -- Annex I. Authorities' Response to Past IMF Policy -- Annex II. External Sector Assessment -- Annex III. Risk Assessment Matrix -- Annex IV. Debt Sustainability Analysis -- CONTENTS -- FUND RELATIONS -- STATISTICAL ISSUES.

This Selected Issues paper reviews business investment patterns in France during the crisis. The main motivation is to explore whether investment has recently evolved in line with established determinants or displayed somewhat unconventional dynamics. This paper addresses three distinct questions. First, has recent investment behavior essentially been consistent with past trends or is there any discernible structural break as a result of the crisis. Second, what drove the contraction in investment during the crisis. Third, what is the investment outlook and can a swift and strong rebound going

This paper analyzes past fiscal consolidation plans and their outcomes in France. It covers the early attempts at fiscal consolidation in the 1970s and the 1980s (Plan Barre and Virage de la Rigueur), the first episode of medium-term fiscal consolidation in 1994-97 ahead of joining the European Economic and Monetary Union, and the fiscal consolidation under the corrective arm of the European Stability and Growth Pact in 2003-07. These experiences offer important lessons for the future, suggesting that binding constraints help focus policymakers' attention and justify their actions; spending re