Did Macron make the French economy look healthier?

Since Emmanuel Macron has been elected President of France on May 7, 2017, the unprecedented support he benefited from the mainstream media has continued unabated.

A same construction of quite artificial optimism and enthusiasm that many political opponents described as propaganda has built up the Macronmania, a likely 5-year-long wave of endless public praises of Emmanuel Macron and his policies.

Actually, some of this mania could well be justified by the latest figures about the French economy as business confidence has stabilized at higher levels and economic growth forecast has been reviewed upwards.

If Macron does bring some more than necessary modernization and reforms to a French economy that missed the globalization train to a significant extent, the positive trend pointed out by statistics started long before Macron announced he was running for France’s top job.

Indeed, although his predecessor François Hollande proved unable to profit from it, France also largely benefited from advantageous economic trends including the sharp drop in oil prices, the central banks’ very accommodative policies and the US economy’s strong recovery.

Yet figures may show the French economy is getting better, ongoing social tensions could still lead to more troubles if Macron fails to deal with the part of the French population that’s being excluded from good-paying jobs and growth.

Summing up, Macron has benefited so far from conditions that pre-existed his presidency and has yet to prove he has the means and the qualities to make France great again.

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