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6 Aug 2013
Moscovici agrees with IMF that boosting growth crucial for French recovery
FXstreet.com (Barcelona) - French Finance Minister Pierre Moscovici fully agreed with the International Monetary Fund today that the top priority for Francois Hollande's government should be boosting growth and slowing the pace of deficit reduction.
Yesterday the IMF released its annual report on the health of the French economy in which it pointed to signs of recovery, although it warned against the adverse effects of the excessively elevated unemployment in the country.
The organization urged Paris to focus on curing the labor market by stimulating investment and job creation. The French unemployment rate hit 10.9% in May and the Fund predicts that it will reach 11.6% in 2014.
Yesterday the IMF released its annual report on the health of the French economy in which it pointed to signs of recovery, although it warned against the adverse effects of the excessively elevated unemployment in the country.
The organization urged Paris to focus on curing the labor market by stimulating investment and job creation. The French unemployment rate hit 10.9% in May and the Fund predicts that it will reach 11.6% in 2014.