Editorial: "Staying lucid about the economic upturn"

Home"Anciens1"Editorial: "Staying lucid about the economic upturn"
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By Gaëtan de Capèle - Deputy Editor of Le Figaro (Economics)

It's a little Christmas before time for Emmanuel Macron. Author of a "remontada" unpublished in the polls, the head of state now sees the economic horizon to emerge seriously. Accelerating growth, increasing consumption and investment, creating jobs ... we have to go back a long way to find such a bright outlook. As his predecessor said without ever having demonstrated, this time "France, she is better".

It probably owes to a change of climate evident since the presidential election. With the departure of François Hollande and the arrival of Emmanuel Macron, not only the feeling settled that reforms would finally be initiated, but proof was given with the law work that they would be implemented. It was not enough to restore confidence, the invisible fuel without which no economy in the world can prosper. However, the French convalescence also owes a lot to a particularly buoyant international environment, which pulls our country upwards. And without playing the rabat-joy, it must be noted, figures in support, that France has not yet joined, far from it, the pack of the best countries.

There is no mystery to this: everyone knows that it will only succeed by aligning itself with the standards of a modern economy, from which it is always far removed. At 56% of GDP, the weight of public spending remains unbearable, and it is not the 1600 government-programmed job cuts - after the creation of more than 20,000 in 2016! - who will change anything there. No more than the bewildering level of compulsory deductions - we passed before Denmark, historical champion ... - which only drops drop-wise.

This is to say whether to welcome the current upturn with lucidity. France may be better, but it is still far from good.

Source: Editorial: "Staying lucid about the economic upturn"

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