Spending Efficiency and Reforms: France
To rebuild fiscal buffers after large fiscal responses to successive shocks over 2020-22, France will need to reverse the trend spending increase observed over the last three decades through structural spending reforms.
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Volume/Issue:
Volume 2023
Issue 014
Publication date: February 2023
ISBN: 9798400236334
$15.00
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Topics covered in this book
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Money and Monetary Policy , Public Finance , International - Economics , Demography , Public Expenditure , Efficiency , Fiscal Consolidation , Fiscal Policy , France , efficiency frontier , efficiency gain , frontier analysis , IMF staff calculation , spending gap , Tax expenditures , Aging , Europe , Global
Summary
To rebuild fiscal buffers after large fiscal responses to successive shocks over 2020-22, France will need to reverse the trend spending increase observed over the last three decades through structural spending reforms. This paper identifies areas where scope for savings or efficiency gains exist based on an evaluation of the level and efficiency of public spending in France relative to European peers, using benchmarking analysis and stochastic frontier analysis to derive efficiency frontiers. Reforming social protection, health, education, and civil service, and rationalizing tax expenditures should preserve or improve outcomes while generating savings that would help meet medium-term adjustment needs.
