OECD.org

The new OECD Economic Survey of Austria projects GDP growth of 1.4% for 2019 and 1.3% for 2020, which is a downward revision reflecting weaker external demand and global trade tensions. Reforms, such as boosting competition in services and bringing more women and migrants into the workforce, will help bolster well-being, the report says.

Health expenditure is projected to outpace GDP growth over the next 15 years in almost every OECD country. Health spending per capita will grow by an average 2.7% per year across the OECD, rising to 10.2% of GDP by 2030 from 8.8% in 2018, according to Health at a Glance 2019. The report urges reforms to make health systems financially sustainable.

Countries should ensure that the early childhood education and care workforce is prepared for the demands of working with young children to give them all a strong start. Providing Quality Early Childhood Education and Care finds that how to work with young children is not always included in staff training.

Colombia’s economy is resilient and appears well equipped to navigate a challenging external environment affected by trade tensions, protectionism and geopolitical uncertainties, but it must pursue new reforms, including by promoting formal employment, to make growth stronger and more inclusive, according to the latest Economic Survey of Colombia.

The OECD is publishing a proposal to advance international negotiations to ensure large and highly profitable multinational enterprises, including digital companies, pay tax wherever they have significant consumer-facing activities and generate their profits. The proposal is now open to a public consultation process.