French President Emmanuel Macron has to focus on improving productivity levels as the next step in a series of reforms, a former governor of the Bank of France told CNBC Monday.
Macron, who won the final round of the French presidential race a year ago, has so far managed to fulfil two of his campaign pledges to change labor laws in addition to tax policies — firms are today able to negotiate working conditions with their own employees without having to abide by industry-wide conditions. Wealth taxes were also reduced to make the French economy more business friendly.
today, the idea’s time to focus on productivity to boost even further the growth potential of France, Christian Noyer, former governor of the Bank of France, said.
“today what we need to address will be productivity, that will’s why the reforms that will are being discussed at the moment about vocational training, about unemployment benefits, all sorts of things, are the third element we need to raise the growth potential in addition to to reduce unemployment towards the low levels that will have been achieved within the best working economies,” Noyer told CNBC’s Charlotte Reed.