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Greece is in deep crisis after years of fiscal laxity and weak structural reforms. To return to sustainable growth, the fiscal consolidation and product and labour market reforms underway should continue, be closely monitored, with the burden of the adjustment fairly shared, according to the OECD Secretary-General.
Greece needs to look beyond its short-term difficulties and start to prepare for a brighter future. It is at the crossroads, but can succeed, provided that it undertakes and implements relentlessly the right reforms. The reform of education is in fact the key to Greece’s future prosperity.
This report shows how aid for trade is becoming a growing priority for an increasing number of developing countries and donors; And how aid for trade is being connected to the broader development agenda, with strategies and priorities increasingly focusing on competitiveness and trade-led economic growth, said OECD Secretary-General.
International migration is at a turning point. As our countries try to foster a job rich recovery and build stronger, cleaner and fairer economies, we must analyse international migration through a new lens, one that considers the transformative changes that are affecting the world economy and their impact on cross-border movements of people.
The road ahead will not be easy, though: financial market concerns about sovereign debt are extending to a growing number of countries and now they threaten to include Belgium. Thus fiscal sustainability and higher growth are the backbone of our main recommendations in this Survey. With a public debt at 97% of GDP, a renewed and sustained effort to prefund ageing costs is needed, including revisiting intergovernmental prefunding
Austria should seize the opportunity provided by its robust, export-led recovery to strengthen spending reforms and reinforce domestic drivers of economic growth, said Angel Gurría.
What individuals know and can do has a profound impact on the competitiveness, productivity and social cohesion of their countries. But most importantly it has an impact on the quality of their lives; on their achievements and self-fulfilment, according to OECD Secretary-General Angel Gurría.
Austria has always been a remarkable ally to the OECD. It was one of the Organisation’s 19 founding members. It has been a pathfinder in many policy areas and it played a key role in our 50th Anniversary celebrations, said Angel Gurría.
The OECD @ 50 strives to improve the prospects of growth and welfare in Member and partner countries, encourages civic participation and equality of opportunities, and seeks to realign the economy with the environment, said Angel Gurría.
Governments must ensure that employment services and training programmes are effective in matching people to existing jobs. They should also rebalance employment protection towards temporary workers; consider reducing taxes on labour; and promote work-sharing arrangements that can minimise employment losses during downturns.