Why was the French economy struggling?
France has struggled with high unemployment since the 2008 global financial crisis, as have other EU countries. … France’s main economic challenges in 2019 were to tackle its high rate of unemployment, increase competitiveness, and combat sluggish growth.
What was the main problem in the French economy?
Unemployment is high and the government’s finances are weak. “France’s fundamental economic problem,” the OECD says, “is a lack of growth.” The latest figures for economic activity (gross domestic product or GDP) for the first quarter of the year show growth of 0.5%.
How is France doing economically?
France’s economic freedom score is 65.7, making its economy the 64th freest in the 2021 Index. Its overall score has decreased by 0.3 point because of a decline in property rights and other scores. … This year, the French economy remains in the moderately free category where it has been since 2004.
What is happening to the French economy?
France jolted analysts this morning announcing its economy contracted in Q4 – real GDP fell 0.1% when it was expected to grow +0.2%. Numbers from Italy proved the most dour from Europe so far where the economy shrunk by 0.3% for the three months ending in 2019.
What are the weaknesses of France?
- Insufficient number of exporting companies, loss of competitiveness and market share.
- Weakening of the product range, insufficient innovation efforts.
- Low employment rate of young people and senior citizens.
- Room for improving the efficiency of public spending.
- High public debt.
- Growing private debt.
What is the poverty line in France?
The definition of poverty in France follows that of the European Union. The poverty line in Europe is “60 percent of the populations median income” and is based on living conditions and employment levels. This means that more than 8 million people in France live on less than 954 euros a month.