Europe & Russia: Economic overview

May 2017

France has elected Emmanuel Macron as its president, while in the UK a general election is approaching.

The uncertainty surrounding France’s future support of the EU has diminished following Macron’s election. However, whether his premiership is successful will depend partly on reforms to the EU, which could present challenges. France’s GDP growth is forecast to improve to 1.4% in 2017 from 1.2% in 2016. Further increases are expected for 2018, with GDP growth forecast to be around 1.7%. The country’s growth has supported a year-on-year rise in gas demand in recent months.