France
Navigating the current market turbulence
With Edmund Shing, PhD, Global CIO, BNP Paribas Wealth Management & Guy Ertz, PhD, Deputy Global CIO, BNP Paribas Wealth Management
Key Messages
1.The recent economic underperformance is due to exceptional factors.
2.Structurally, France can generate growth that will help the public debt ratio to stabilise, provided that its budget deficit is brought down to approximately 3% of GDP.
3.France’s fundamentals and a growing political alignment towards stability suggest that the current volatility is a transition phase rather than a systemic failure.