French economist Nicolas Bouzou contends that France’s economic growth is insufficient to sustain its welfare state.
France is navigating a precarious economic and political equilibrium, with thousands of students taking to the streets to demand increased resources and better conditions, while the government struggles to stabilize public finances under considerable strain.
Bouzou pinpoints two critical challenges facing France: the persistent failure to reduce public debt and mounting political uncertainty ahead of the upcoming presidential elections next spring.
With a budget deficit at approximately 5% of GDP and public debt approaching 120% of GDP, the government has minimal fiscal space for additional stimulus measures to alleviate the crisis.
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