Exploring France and Morocco

France: growth is benefiting from internal supports 

Hélène Baudchon, BNP Paribas Economic Research Department

After a market soft patch in the first half of 2018, growth in France will probably get some colour back in the second part of the year,  despite a less supportive external economic environment. Consumer spending should get a boost from tax cuts and increases in social minima planned for the end of the year. This positive impact is expected to last into 2019, buffering the growth slowdown. Other fiscal stimulus measures will also be at work, and the first results of the labour market reforms and the ‘PACTE’ growth and business reform act could start to show up.

To read the full analysis: here

Morocco: mixed prospects

Stéphane Alby, BNP Paribas Economic Research Department

Morocco’s performance was mixed during the first half of 2018. The economic growth recovery is still mild despite good performances in the tourism and manufacturing sectors. Social unrest is rising against a backdrop of endemic unemployment, while the economy is hit again by a swelling energy bill. After several years of consolidation, the twin deficits are expected to widen slightly this year. Although Morocco’s macroeconomic fundamentals are still solid, structural reforms are needed to raise the growth potential.  

To read the full analysis: here

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