OECD Economic Surveys: France 2021
The French economy rebounded quickly following the COVID-19 crisis, in particular thanks to the acceleration of the vaccination campaign and strong public support measures. Rapid and effective implementation of the recovery and investment plans would help support stronger and more sustainable growth. However, public spending has reached an exceptionally high level, with a mixed performance, which calls for reorganising the fiscal framework to ensure the sustainability of public finances. Education and labour market integration policies will need to be better targeted, with specific training efforts for young people and older workers. Reinforced support for the most vulnerable and less qualified should reduce inequalities, including territorial ones. The transition to a greener economy is the other key challenge that France must take on. Strengthening green investments is crucial to accelerate the pace of emission cuts, as well as putting in place the necessary incentives to foster behavioural changes, if necessary with targeted support for the most vulnerable.
SPECIAL FEATURE: STEERING THE RECOVERY TOWARDS AN ECOLOGICAL TRANSITION
Also available in: French
Executive Summary
Economic policies reacted swiftly and strongly to the crisis, and activity has rebounded quickly. The recession associated with the pandemic was severe. From March 2020 to end-June 2021, sanitary restrictions tightly constrained economic activity, although their impact gradually declined, leading to a steep rebound (Figure 1).
Also available in: French
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