--Adds Comments From IMF France Mission Chief
PARIS (MNI) - France's economy is recovering but not at a pace that is
likely to reduce unemployment or the high level of public debt without further
reforms, the International Monetary Fund said Tuesday.
In a so-called Article IV review, the IMF said France's GDP should grow by
"close to" 1.5% this year, upgrading its previous forecast of 1.1% and
essentially matching the government's estimate.
Over the next five years, however, growth is likely to very moderate, the
IMF said, averaging around 1.75% at year.
"With past drivers of aggregate demand fading and a still fragile euro area
recovery, medium-term growth prospects are modest," the IMF said.