The French economy is expanding, the labour market is recovering – albeit gradually - while productivity and the standard of living remain generally high, according to a new OECD report.
OECD Week 2017, that includes the Forum (6-7 June), the Meeting of the OECD Council at Ministerial Level (7-8 June), as well as other meetings, placed a central emphasis on "Bridging Divides" and on policies that could deliver a more inclusive globalisation, to respond to growing citizens’ concerns that globalisation has not benefitted fairly to all.
This Global Forum, held on 24-25 October 2016, aimed to shed light on the links between environment and economic growth, and the toolkits to quantify these links. It provided a platform to explore how a well-managed natural environment can contribute to economic growth and how an effective and efficient regulatory system can best be designed?
The global economy is stuck in a low-growth trap that will require more coordinated and comprehensive use of fiscal, monetary and structural policies to move to a higher growth path and ensure that promises are kept to both young and old, according to the OECD’s latest Global Economic Outlook.
Forum 2016, entitled Productive economies, Inclusive societies will be organised around the 3 cross-cutting themes of the OECD Week: inclusive growth and productivity, innovation and the digital economy, and international collaboration for implementing international agreements (COP21 and the Sustainable Development Goals) and standards (BEPS and automatic exchange of information).
Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, according to the OECD’s latest Interim Economic Outlook.
Over the past decade, France has substantially eased the burden of anti competitive regulations and effectively enforced competition law against anti-competitive practices.
In a note presented to French Economy Minister Emmanuel Macron today (only available in French), the OECD estimates that five sets of measures in the Macron Law could potentially increase France’s GDP by 0.3% over 5 years and by 0.4% over 10 years.
France devotes a great deal of resources to vocational training for youths and especially adults, but the system is unduly complex and yields rather poor returns. The basic literacy and numeracy skills of many French adults remain weak in international comparison, with harmful effects on employment opportunities, wages and well-being.
GDP is set to grow by at least 1.6% in 2017-18, supported by private consumption and investment. The labour market is improving, but productivity gains are too low to sustain the current level of social protection, high-quality public services and rising incomes in the long run.