The annual report of the French Pensions Advisory Council (Conseil d’Orientation des Retraites, COR) published early June confirms that the pay-as-you-go system is in deficit. But it is a deficit under control in the long term, from -0.4% pt of GDP in 2030 to -0.8 pt around 2050, stabilised thereafter until 2070. If there will …
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Does France spend too much on pensions compared to OECD averages?
Public pensions in France would be equivalent to 14% of GDP, an alarming level for many observers. This figure comes from the OECD Economic Survey of France 2021. What concerns OECD economists is not so much the financial sustainability of the system, but the share in public spending, and in GDP points, compared to the …
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The outlook and downside risk scenarios for 2023-2024
The traditional batch of annual economic outlook reports released end of 2022 and in January this year – including the IMF (October & January update ), OECD (November), World Bank (January), the European Commission (November), the European Central Bank (December) & US Federal Reserve (November) – all come with the same message: at best the …
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