Macron’s 2017-2022 economic policies: predominantly supply-side, before Covid shifted the priority to fiscal support

The first half of Emmanuel Macron’s term (from H2 2017 to the Covid outbreak, in Q1 2020) featured a significant number of “structural” or “supply-side” reforms, of the type generally considered favourable to long-term growth.

In fact, this policy prolonged a shift that had already occurred during the second half of François Hollande’s term. Although elected in 2012 on a clearly left-leaning platform, Hollande made a sharp turn towards supplyside policies in 2014 while maintaining a somewhat ambiguous communication. Macron, incidentally, led some of these efforts as minister of the economy from 2014 to 2016. He could thereafter, as President, continue this momentum, while openly communicating on it as it was in accordance with his electoral platform.

You can now read the full whitepaper at the link below