Lagarde Says France Needs to Implement Reforms, Sees 1% Growth

International Monetary Fund Managing Director Christine Lagarde said France needs to keep reforming its economy and that she would welcome a second law by Economy Minister Emmanuel Macron.

“I hope there will be a second Macron law,” Lagarde said on France 2 television. “Anything that cuts fat, that simplifies, goes in the right direction.”

The IMF is preparing to revise its global growth forecasts and will likely estimate France’s 2015 growth rate at more than 1 percent. Growth of about 2 percent is needed to generate a drop in unemployment, Lagarde said.

With low oil prices, a weaker euro and monetary stimulus, France should be able to show growth, she added.

“If the good ship France can’t open its sails widely in these conditions, it would be worrying,” Lagarde said.

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