The OECD economist recommends France caution: Financial discipline desired

The chief economist Oecd Alvaro Pereira warned on Tuesday that the French government should be “very cautious” when it comes to finances in the coming years. He emphasized that Paris should draw conclusions from the experiences of countries such as Portugal or Italy and return to financial discipline.

Pereira appealed in an interview with AFP to “learn from what happened” in Italy, Portugal and other countries. He emphasized that these countries “returned to financial discipline, while France is still increasing” its public debt.

France's public debt, i.e. the amounts borrowed by her in the markets, is currently 115 percent. GDP. This places her in third place among the most indebted euro area countries – after Greece and Italy. The growth of debt contributed, among others Further crises in recent decades – financial and associated with Covid -19 pandemic. The ordering of public finances was announced by the previous government, but forced to give up by parliament. Currently, the new Prime Minister Sebastien Lecorn is working on creating a new government. (PAP)

AWL/ AP/