Med mere end 58.000 konkurser i 2016 er konkursraten stadigvæk ca. 5% højere end raten før krisen i 2008.
The insolvency environment
Despite decreases in 2016 and 2017, the insolvency level remains high
French business insolvencies decreased by about 8% in 2016, and in 2017 another 5% decline is expected, in line with the on-going (albeit modest) economic rebound. However, with more than 58,000 cases in 2016 the number of business insolvencies was still about 5% higher than in 2008.
Growth expected to remain below eurozone average
After several years of feeble GDP increases of less than 1%, in 2015 and 2016 the French economy grew 1.2% annually. However, this growth rate remained below the eurozone average (1.6% growth in 2016).
In 2017 and 2018 French economic growth is expected to increase only modestly, by 1.3% and 1.4% respectively; again below the eurozone average. Productivity remains an issue in the French manufacturing sector.
Unemployment, at least, shows a decreasing trend, which should benefit private consumption.
The 2008 credit crisis, subsequent government stimulus measures, and France’s only modest recovery have led to a sharp increase in public debt in recent years, up to 93% of GDP in 2016 from 67% of GDP in 2008. The French government has repeatedly missed meeting the Maastricht deficit threshold of 3% of GDP. Despite some austerity programmes, more measures to curb public spending are required, as public spending in France is the highest in the eurozone (57% of GDP).