Concerns on Macron's ability to achieve his economic goals

CAIRO – 9 May 2017: Adel Mehany, international economist and Professor of Economics at the European University of Business in Paris, expressed to Egypt Today his concerns about Macron's ability to achieve his economic goals.

“If we look at Macron’s economic goals we’ll find some really good numbers: investments reaching 50 billion Euros, unemployment benefits granted to all employees in the state, cuts in company taxes from 33% to 25% and reduction of housing taxes,” said Mehany to Egypt Today.

Mehany also added that a French institution called Institut Montaigne did independent studies on Macron’s election promises, stating that even though Macron wants to increase France’s budget by €60 billion ($65 billion), the realistic studies and the French economic reality, shows that he will only be able to achieve €36 billion. Regarding the €15 billion in new expenses Macron talked about, the institution believes he can only spend €16 billion.


Adel Mehany, international economist and Professor of Economics at the European University

Macron claimed that there will be a huge raise in the French state revenue by €12.5 billion but the institution believes it won’t exceed €4.8 billion, stated Mehany.

According to the National Institute of Statistics and Economic Studies, France’s budget deficit reached today 3.4 percent of the French Gross Domestic Product (GDP) Mehany highlighted that this could be a problem because, if Macron wants to enforce France’s relationship with the European Union, the budget deficiency should not exceed 3 percent from the GDP and that is not the case in France currently.