WASHINGTON (Sputnik) — Macron was elected in a run-off election on Sunday, winning 66.1 percent of the vote to his rival Marine Le Pen's 33.9 percent, according to the French Interior Ministry.
"New French President Emmanuel Macron's policy platform is, on balance, credit positive for France because it aims to enhance medium-term growth, while continuing the gradual process of debt consolidation," the release stated.
France’s debt is nearly 100 percent of GDP and is unlikely to decline by the end of the decade. The country’s growth potential also remains relatively weak, and is unlikely to reach above 1.5 percent unless significant reforms are enacted, the agency explained.
Macron campaigned on a centrist platform that could reform labor market regulation and competition, but the former Socialist Party member formed his own political movement 13 months ago and is currently not a member of any of France’s political parties.
Moody’s said the outcome of the legislative elections in June will be a major factor in determining if Macron can achieve his policy plans.
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