To comply with its public finance commitments, France will have to change the boundaries of the state, which could increase potential growth

Spontaneously, France's fiscal deficit in 2021-2022 will far exceed France's commitments (by 4 percentage points of GDP?). To reduce the fiscal deficit by such a large amount, the only solution will be to change the boundaries of the state, to transform what were formerly public services into private services . This can be achieved while boosting potential growth: A privatisation of part of the pension system would make it possible to improve corporate financing; A privatisation of part of the healthcare system would lead to a rapid increase in private healthcare spending; A privatisation of part of the education system (universities) could make this a high-growth activity attracting foreign students.