Population: 65.4m

Emmanuel Macron, the president, will revamp his wide-ranging policy platform to focus
on recovery from the economic slump brought on by covid-19. France’s stimulus plan is
unusual in relying on supply-side reforms, including tax cuts, rather than demand-
boosting measures. Mr Macron is betting these will be enough to restore his public
image ahead of elections in April 2022. Social unrest will return as unemployment rises.
The economy won’t regain all of its lost ground.

Germany

GDP growth: 4.6%

GDP per head: $48,160 (PPP: $56,870)

Inflation: 1.0%

Budget Balance (% GDP): - 3.6

Population: 82.9m