The article analyzes the results of the first Emmanuel Macron’s presidential five-year term. The authors highlight that the period 2017–2022 proved to be a time of ambitious undertakings and difficult trials for France. The young president sensitively caught the French desire for change and set about solving urgent problems. The improvement of public finances and reboot of the economy, modernization of the administration of the Republic with expansion of “social lifts”, the return of France's leadership in the European Union and strengthening of the EU's position in the world – these were the main goals of Macron. Nevertheless, these plans ran into serious objections: inside the country – via the mass protests of working classes defending social guarantees and the opposition of parliamentarians facing the strengthening of presidential power, in the international arena – due to the EU problems and the rivalry of France with a number of other powers. The COVID-19 pandemic has become a real “black swan” for the president, forcing him to adjust the initial settings. However, E. Macron had some achievements on his way – such as the Labor Code reform, political confidence laws, transformation of the ENA, development of the European Union initiatives, especially the Franco-German plan to save the EU economy during the 2020 pandemic. The authors conclude that despite Macron’s re-election, his second term will become very difficult: the loss of an absolute majority in the National Assembly in the June 2022 elections showed that a tripolar system has been formed in France, so the centrist Macron will have to take the positions of the extreme right and left forces into account when building his economic and domestic policy. As for his foreign policy, the main troubles lie in the serious aggravation of the international situation in Europe.