PARIS (AP) — French Economy Minister Emmanuel Macron, an outspoken former investment banker who has encouraged startups and more labor flexibility, has quit the socialist government amid speculation that he is considering a presidential bid.

An official in President Francois Hollande's office announced Tuesday that Finance Minister Michel Sapin will take over Macron's responsibilities. The official spoke only on condition of anonymity as they were not authorized to be publicly named.

Macron started a political movement this year but hasn't said whether he'll run for president. While polls show he enjoys wide popularity, it's unclear whether he could translate that into votes.

Critics in Hollande's Socialist Party say Macron has betrayed left wing ideals by pushing France toward an American-style business model with laws loosening labor rules.

Macron, 38, argues that France needs change to stay competitive internationally. He has never held elected office.

Macron has repeatedly stressed he is not a member of the Socialist party even if he was part of a Socialist government.

Political analyst Frederic Dabi of the survey institute Ifop said Macron's challenge is now "to turn high popularity into voting intentions, but it's a hard task, because he's not very popular in the left wing and because his popularity in the right wing does not necessarily mean votes."

"In any case, a key minister of Hollande's government leaving in the last moments of the 5-year term can be seen as a sign of disorder," Dabi said.

Hollande, the most unpopular president in French modern history, has not announced yet whether he will run for re-election next year.