Greece 2022 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Greece

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Greece: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Greece: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece by : International Monetary

Download or read book Greece: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-21 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Greece has weathered the pandemic well, with a considerably stronger-than-expected recovery. Reforms progressed in several areas, including digitalization, privatization, improving the fiscal policy mix, and bank balance sheet repair. Greece finalized its early repayment to the IMF on April 4 and is expected to graduate from the quarterly European Institutions’ Enhanced Surveillance framework on schedule by August 2022. Despite the adverse impact of the war in Ukraine, growth is projected to remain robust at 3.5 percent this year. High energy prices are expected to push up average inflation to 6.1 percent. Public debt is on a downward trajectory and rollover risks appear manageable. The external position last year was moderately weaker than that consistent with fundamentals and desirable policies.

Cyprus: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 79 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Cyprus: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus by : International Monetary

Download or read book Cyprus: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus written by International Monetary and published by International Monetary Fund. This book was released on 2022-06 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cyprus is highly exposed to the fallout from the war in Ukraine through trade with Russia. This new challenge comes against the background of the lingering effects of the pandemic and financial vulnerabilities dating from the 2012–13 crisis. Growth is projected to slow from 51⁄2 percent in 2021 to around 2 percent this year. Recovery will regain momentum in 2023, and is projected to continue in the medium term, supported by investments and structural reforms in the Recovery and Resilience Plan.

Switzerland: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Switzerland

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 73 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Switzerland: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Switzerland by : International Monetary

Download or read book Switzerland: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Switzerland written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-20 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recovery was strong in 2021, but there are headwinds from the war in Ukraine. 2021 output was 1 percent higher than in 2019, but 2 percent below pre-Covid trends; unemployment is back to pre-crisis levels. Inflation has picked up (2.5 percent in April), but below other advanced economies. Strong exports/merchanting led to a higher current account surplus. Although the energy mix (nuclear, hydro) has limited exposure to Russia, exposures of commodity traders and indirect channels could be important. Growth is likely to slow to 21⁄4 percent in 2022 (3⁄4 ppt. drag from the war). Risks are to the downside (war escalation, Covid developments, real estate). Covid outlays are lower in 2022, but still large (1.2 percent of GDP). Outlays related to Ukraine are likely to be accommodated as extraordinary. The Swiss National Bank is closely monitoring inflation, seeing it returning to the 0–2 percent range this year. The authorities reactivated the sectoral CCyB for residential real estate. They are pursuing pension and labor reforms, climate initiatives, energy security, and renewed EU engagement.

Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

Author : Hrushikesh Mallick
Publisher : Springer Nature
ISBN 13 : 9464630981
Total Pages : 2160 pages
Book Rating : 4.4/5 (646 download)

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Book Synopsis Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022) by : Hrushikesh Mallick

Download or read book Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022) written by Hrushikesh Mallick and published by Springer Nature. This book was released on 2023-01-13 with total page 2160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book. 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022) to be held in Chongqing (Online) on October 14-16, 2022. As the leader of the global trend of scientific and technological innovation, China is constantly creating a more open scientific and technological innovation environment, expanding the depth and breadth of academic cooperation, and building a shared innovation community. These efforts are making new contributions to globalization and building a community with a shared future for mankind. ICEMCI aims to bring together innovative academics and industry experts in Economic Management and Cultural Industry into a common forum. We will discuss and research on areas such as International Economics and Trade, Sustainable Economic Development, Economic Statistics, Economic Policy, The impact of cultural industries on the economy, etc. ICEMCI 2022 also aims to provide a platform for experts, scholars, engineers, technicians and technology R&D personnel to share scientific research results and cutting-edge technologies, understand academic development trends, expand research ideas, strengthen academic research and discussion, and promote cooperation in the industrialization of academic achievements . With the theme "Economic Management and Cultural Industry", ICEMCI 2022 aspires to keeping up with advances and changes to a consistently morphing field. Leading researchers and industry experts from around the globe will be presenting the latest studies through papers, keynote speeches and oral presentations. We warmly invite you to participate in ICEMCI 2022 and look forward to seeing you in Chongqing !

Greece

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 145520689X
Total Pages : 146 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Greece by : International Monetary Fund

Download or read book Greece written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-10 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Greek economy is teetering owing to heavy public debt and loss of market access. Greece is adopting an ambitious comprehensive multiyear adjustment program to lower the fiscal deficit and the debt ratio, reduce domestic demand in line with capacity, and increase supply and competitiveness so that the economy can step onto a higher growth path led by investments and exports. Greece needs a strong and sustained adjustment program to lower the fiscal deficit substantially and create the basis for a declining debt ratio.

Greece

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 79 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Greece by : International Monetary Fund. European Dept.

Download or read book Greece written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2024-01-24 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Greece’s economic outlook has improved notably, but significant challenges remain. The economy has resumed income convergence, ending a decade of stagnation with high unemployment and low investment amid large deleveraging. Real GDP has expanded beyond the pre-pandemic trend level, driven by the cyclical recovery of tourism demand and the resumption of structural reforms and investment in the context of Next Generation EU. Strong growth and high inflation have brought the public debt-to-GDP ratio down below its pre-pandemic level with limited financing risks in the medium term due to the favorable debt structure. However, despite regaining sovereign investment grade status and improving bank balance sheets, the economy is facing macro-financial challenges amid significant monetary policy tightening, persistent core inflation, and rising real estate prices. Structural imbalances arising from low household savings and still low level of investment as well as increasing risks from climate change are weighing on medium-term growth prospects.

Negotiating the New Normal

Author : Saurav Jha
Publisher : Hachette India
ISBN 13 : 9350096048
Total Pages : 367 pages
Book Rating : 4.3/5 (5 download)

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Book Synopsis Negotiating the New Normal by : Saurav Jha

Download or read book Negotiating the New Normal written by Saurav Jha and published by Hachette India. This book was released on 2023-08-17 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: " The world economy was still reeling from the Global Financial Crisis of 2008 when the COVID-19 pandemic struck like a bolt of lightning in late 2019. Whatever remained of the neoliberal credo - based on the salience of free markets - was upended, and economic nationalism fast became the new stock ideology. In Negotiating the New Normal, Saurav Jha carefully examines why, in the wake of the coronavirus shock, strong economic recovery in the developed world is more doubtful than ever. Instead of throwing its weight behind a multipolar world order, China, by far the largest economy among the BRICS nations, has chosen to create a Pax Sinica. However, it is unlikely to make much headway owing to both internal economic contradictions and pushback from the West and beyond. And what of India? Can it become a 'new China' to serve as a key engine of global growth, overcoming the pandemic-induced setback, as well as earlier policy missteps like demonetization? Answering all these questions and raising many more, Jha's deeply researched and cogently argued account examines the 'new normal' of a transactional, even predatory geoeconomic climate where central banks are fast running out of answers and heavily indebted governments are desperately searching for silver bullets. This work of extraordinary depth and ambition, tracing the destinies of the major economic centres of the world, provides a nuanced if sobering context to the reader as it suggests what India must do to rise in this grave new pandemic-ridden world. "

Sovereign Debt Restructuring and the Law

Author : Sebastian Grund
Publisher : Taylor & Francis
ISBN 13 : 1000826708
Total Pages : 194 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Sovereign Debt Restructuring and the Law by : Sebastian Grund

Download or read book Sovereign Debt Restructuring and the Law written by Sebastian Grund and published by Taylor & Francis. This book was released on 2022-12-30 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book sheds light on the perhaps most important legal conundrum in the context of sovereign debt restructuring: the holdout creditor problem. Absent an international bankruptcy regime for sovereigns, holdout creditors may delay or even thwart the efficient resolution of sovereign debt crises by leveraging contractual provisions and, in an increasing number of cases, by seeking to enforce a debt claim against the sovereign in courts or international tribunals. Following an introduction to sovereign debt and its restructuring, the book provides the first comprehensive analysis of the holdout creditor problem in the context of the two largest sovereign debt restructuring operations in history: the Argentine restructurings of 2005 and 2010 and the 2012 Greek private sector involvement. By reviewing numerous lawsuits and arbitral proceedings initiated against Argentina and Greece across a dozen different jurisdictions, it distils the organizing principles for ongoing and future cases of sovereign debt restructuring and litigation. It highlights the different approaches judges and arbitrators have adopted when dealing with holdout creditors, ranging from the denial of their contractual right to repayment on human rights grounds to leveraging the international financial infrastructure to coerce governments into meeting holdouts’ demands. To this end, it zooms in on the role the governing law plays in sovereign debt restructurings, revisits the contemporary view on sovereign immunity from suit and enforcement in the international debt context, and examines how creditor rights are balanced with the sovereign’s interest in achieving debt sustainability. Finally, it advances a new genealogy of holdouts, distinguishing between official and private sector holdouts and discussing how the proliferation of new types of uncooperative creditors may affect the sovereign debt architecture going forward. While the book is aimed at practitioners and scholars dealing with sovereign debt and its restructuring, it should also provide the general reader with the understanding of the key legal issues facing countries in debt distress. Moreover, by weaving economic, financial, and political considerations into its analysis of holdout creditor litigation and arbitration, the book also speaks to policymakers without a legal background engaged in the field of international finance and economics.

Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro by : International Monetary

Download or read book Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-24 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 hit the economy hard, but a strong recovery is underway. Public debt, already elevated before the pandemic, has increased further. The government has embarked on a reform program ‘Europe Now’, which aims to arrest outward migration through a sharp minimum wage increase, labor tax wedge reduction, and the introduction of a progressive tax code. The financial sector appears to have withstood the COVID-19 shock well.

Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain by : International Monetary

Download or read book Spain: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Spain written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-16 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Spanish economy is recovering from the deep recession caused by the COVID pandemic and employment is already above its pre-pandemic level. A highly successful vaccination campaign helped limit the impact of the recent wave of infections on hospitalizations and economic activity. Output is expected to return to its pre-pandemic level by the end of 2022. However, there is significant uncertainty around the recovery path related to the evolution of the pandemic and the duration of global supply bottlenecks. The pace of absorption and the effectiveness of use of Next Generation EU (NGEU) funds will also affect growth in the coming years. In the near term, the key policy challenge is to continue to provide targeted pandemic support while facilitating resource reallocation and a transformation to a greener and more inclusive economy.

Central Banking and Monetary Policy in the G20: Paradigms and Challenges

Author : İrfan Kalaycı
Publisher : Vernon Press
ISBN 13 :
Total Pages : 498 pages
Book Rating : 4.8/5 (819 download)

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Book Synopsis Central Banking and Monetary Policy in the G20: Paradigms and Challenges by : İrfan Kalaycı

Download or read book Central Banking and Monetary Policy in the G20: Paradigms and Challenges written by İrfan Kalaycı and published by Vernon Press. This book was released on 2025-01-07 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behind productive and prosperous economies are independent central banks that implement effective monetary policies. This observation is especially valid for the G20, which comprises the world’s top twenty economies in terms of gross domestic product and the largest stakeholders of the global economic system. These economies include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, and the European Union. Three features of this book, which focuses on central banking and monetary policy in the G20, an intergovernmental platform, stand out: Firstly, as contemporary theories and global practices confirm, the main purpose of central banks is to ensure monetary and price stability, not despite the government but in cooperation with it. This principle is strongly emphasized here. Governments, which must maintain fiscal discipline, are key to the success of central banks in combating inflation and deflation. Secondly, since the authors of the book chapters come from various countries and academic institutions, the book offers a range of perspectives and intellectual richness. Without deviating from the book's main axis, the authors examine the changing paradigms in central banking and the increasing challenges of monetary policy. This examination is based on developed and emerging economies, integrations, financial organizations, and economic crises within the G20, informed by significant sources. Thirdly, this book offers university researchers, professional business practitioners, and curious readers the opportunity to explore and reflect on new concepts such as green central banking, digital money, and interest-free monetary policies, which have gained prominence in the wake of the global COVID-19 pandemic, alongside mainstream topics. It is hoped that this book, consisting of 14 chapters, will inspire those who wish to conduct new and renewed academic studies on global central banks and monetary policies and will fill a gap in the literature.

United Kingdom: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Kingdom

Download United Kingdom: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Kingdom PDF Online Free

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 109 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis United Kingdom: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Kingdom by : International Monetary

Download or read book United Kingdom: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United Kingdom written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-23 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The UK’s rapid vaccination campaign enabled it to start to reopen the economy in the Spring of 2021. With highly accommodative policies, the recovery has been faster than expected. However, capacity constraints and rising price pressures have emerged while new Covid-19 variants have raised new uncertainties. The government has allowed all initial pandemic support programs to sunset but has loosened near-term fiscal policy while specifying a back-loaded medium-term consolidation plan. With continued above-target inflation readings, the BoE made a first move to raise the policy rate in December. Macroprudential policies are returning to more standard risk settings. The near-term growth outlook remains strong, but so too are price pressures, while the financial cycle remains ahead of the economic cycle. The pandemic and Brexit have magnified structural challenges. Real GDP would remain below its pre-pandemic trend by about 2–21⁄4 percent in the medium term. Risks are considerable in the period ahead, centering on new Covid-19 waves and spillovers from tensions in Eastern Europe.

Republic of North Macedonia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of North Macedonia

Download Republic of North Macedonia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of North Macedonia PDF Online Free

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Republic of North Macedonia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of North Macedonia by : International Monetary

Download or read book Republic of North Macedonia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of North Macedonia written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-16 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy is rebounding. After a 6 percent drop in 2020, real GDP is projected to grow at 4 percent both in 2021 and 2022, reflecting improved mobility, a return of the diaspora, and continued policy support. With uncertainty remaining high, including about the course of the pandemic, policies need to be kept flexible. Emphasis should be on limiting the economic scars from the pandemic crisis while making progress on long-standing reform priorities such as further strengthening public financial management and revenue administration and buttressing the financial safety net.

Greece

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 1513520261
Total Pages : 60 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Greece by : International Monetary Fund. European Dept.

Download or read book Greece written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2019-11-15 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper explores the links between wage policies, non-wage cost developments, and competitiveness. A series of program-era policies helped to partially reverse this trend, including labor market policies that cushioned the effect of the crisis on employment and brought unit labor costs broadly in line with trading partners. However, the resulting more competitive wage structure only partly translated into price adjustments due to product market rigidities (with firms retaining some profit margin) and rising non-wage cost factors (e.g., taxes and financing costs). This incomplete internal devaluation and subsequent low productivity gains reinforce the view that Greece has further to go to address its external imbalances. However, labor policy reversals following program exit in August 2018 threaten this objective. The paper shows that Greece must preserve its labor cost competitiveness while increasing efforts to facilitate price adjustment in product markets and reduce non-wage costs.

Euro Area Policies

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498325076
Total Pages : 61 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Euro Area Policies by : International Monetary Fund. European Dept.

Download or read book Euro Area Policies written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2019-07-11 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a sharp slowdown starting in 2018, euro area growth is expected to recover over the course of 2019. However, mounting downside risks from global trade tensions, a no-deal Brexit, and market concerns about countries with high public debt emphasize the precarious nature of the forecast. Even in the absence of a major shock, there is a danger that the area could enter a prolonged period of anemic growth and inflation. Policies should focus on supporting growth while also reducing vulnerabilities.

Switzerland

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 67 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Switzerland by : International Monetary Fund. European Dept.

Download or read book Switzerland written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-06-07 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth slowed in 2022 to 2.1 percent and should decline to 0.8 percent in 2023, with risks on the downside. Inflation was 2.9 percent in March and may remain above 2 percent until 2024, due to wage pressures and rent increases. The current account surplus is expected to moderate to 7.8 percent of GDP in 2023 (global slowdown, normalization of merchanting trade). The focus of fiscal policy has shifted to offsetting extraordinary outlays while addressing medium-term spending needs within the debtbrake rule. Monetary policy is focused on reducing inflation. Credit Suisse challenges led to state-facilitated acquisition by UBS. Otherwise, financial sector buffers remain strong, but risks have increased. Pension reforms and EU dialogue progressed. Challenges are aging and skill gaps, energy security, green transition, and geo-economic fragmentation.

France

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis France by : International Monetary

Download or read book France written by International Monetary and published by International Monetary Fund. This book was released on 2023-01-30 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: France saw a robust recovery from the Covid-19 shock but is now facing the repercussions of Russia’s war in Ukraine. In 2021, output rebounded by 6.8 percent and recovered to pre-crisis levels. The recovery was broad-based and faster than in most other European countries. While France is less directly exposed to the energy shock, the war in Ukraine is dampening the recovery by denting confidence and exacerbating supply-side difficulties. Inflation has surged but remains well-below peers thanks to energy price controls and subsidies. These and other measures to support purchasing power keep the fiscal deficit elevated despite the unwinding of Covid-19 support. While capacity utilization remains below pre-crisis levels, labor market conditions have further tightened.