OECD raises French 2107 GDP forecast to 1.7%

The Organisation for Economic Co-operation and Development (OECD) was out with a note on France this Thursday and raised 2107 GDP forecast for the eurzone's second-largest economy to 1.7% as compared to 1.3% expected previously.

Key points:

   •  2018 GDP 1.6% vs 1.5% previous
   •  sees public sector deficit at 3.0% in 2017 and 2.9% in 2018
   •  French pension spend still high, retirement age low
   •  France needs long term strategy to cut public spending
   •  needs balance of power between workers, firm