France

After the fall in GDP by 2.4% in the crisis year 2009, France's economy recorded a modest increase of 1.5% in 2010, following the trend of rapid economic recovery in the euro area, but also as a result of the application of the economic recovery plan, worth 45 billion euros, for the period 2009 - 2010. The three "engines" that contributed to overcoming the crisis were private consumption, exports and investment. The most spectacular growth was in exports, which increased by 10% in 2010, after decreasing by 12% in 2009. In 2010, the budget deficit increased slightly as compared to the high level reached in 2009, at 7.7% of GDP, and the deficit reduction has become the central objective of the French government for 2011 (to 6%) and 2012 (to 4.6%), focusing on the reduction of expenditure of all public institutions without affecting the sensitive social model of the French economy. French government forecasts for economic growth in the period 2011 - 2012 (+2.5% / year) were considered too optimistic by the European Commission, the OECD and the IMF, whose forecasts indicate a slight acceleration in the pace of GDP growth by 1,6% and 1,8% respectively, exceeding the annual average increases forecast for the euro area.