June 3, 2019 / 2:40 PM / 3 months ago

More spending reforms needed to haul French debt downwards: IMF

PARIS, June 3 (Reuters) - President Emmanuel Macron’s government will generate savings if it implements planned reforms to the pension and unemployment benefit systems, but additional reforms will be required to put French public debt on a solid downward path, the IMF said.

“France’s growth has slowed but remains resilient and job rich, in part reflecting important labour-market and tax reforms,” the International Monetary Fund said.

However, it said external risks had risen, and France’s structural challenges persisted, citing high public and private debt, high unemployment and sluggish productivity growth.

“Reforms must continue to address these long-term challenges and bolster resilience to shocks,” it added. (Reporting by Richard Lough ; Editing by Matthias Blamont)

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