France has no lack of economic assets: an enviable standard of living, high productivity, above-average prime-age labour-force participation and average income inequality that, unlike in many other OECD countries, has not worsened over the long term. This economic performance is underpinned by a diversified industrial structure, a sound banking system and high, even if uneven, educational attainment. However, potential output has slowed, partly because of the crisis; the economic recovery has disappointed; and unemployment is at a high level and still rising. The fiscal situation is weak, with a chronic deficit, considerable government spending, correspondingly high taxes and rising public debt. The significant complexity of systems and institutions highlights a pressing need to speed up the ongoing simplification effort. The government has undertaken a series of welcome pro-growth structural reforms and has more in the pipeline. Equity considerations have not been neglected, with efforts to improve educational inclusiveness and the pathway into the labour market for the young. Building on these reforms holds the promise of renewing growth, thereby raising living standards and improving well-being. The necessary public support will be forthcoming if it is alsoseen as a way of enhancing equality of opportunity.