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Faced with unprecedented levels of unemployment, unsustainable fiscal deficits and public debt and weak economic growth, governments need to focus on innovation and pro-green policies as potential new sources of growth, says OECD Secretary-General Angel Gurría.
Angel Gurría provides an overview of labour market conditions in OECD countries and explains why large fiscal deficits complicate the policy options even further. He also describes what governments should do to promote a job-rich recovery that benefits all workforce groups, including the most vulnerable.
Our production and consumption patterns are causing irreversible damage to the earth and its atmosphere and we need to urgently reduce our greenhouse gas emissions, according to Angel Gurría. He added that cutting GHG emissions will inevitably involve a restructuring of the economy. Government policies must play a key role not only to enhance the competitive edge of “green” industries, but also to smooth the transition for those that
The short-term labour market outlook is not rosy and countries face a serious risk of a “jobless recovery”, said the Secretary-General at the G20 employment ministers' meeting in Washington. He added that ensuring high unemployment does not persist for too long is a key objective.
At an international panel discussion on Haïti, the OECD Secretary General, A. Gurría said that "we have a great responsibility, in line with international commitments, to make our aid more effective and the multiple facets of our engagement more coherent, with greater impact".
"The crisis brought to the fore that in a globalised economy, no single country has all the answers. Using our methods of peer learning, benchmarking and monitoring, the OECD can pave the way to build a stronger, more balanced and sustainable economic growth" said Angel Gurría in a speech delivered at the Prague University.
Presenting the OECD Economic Survey of the Czech Republic in Prague, Angel Gurría underlined that "The economy has shown considerable resilience in the face of extraordinary challenges."
Presenting the Economic Survey of the Czech Republic at a high level seminar in Prague, A. Gurría suggested the creation of a "watchdog" to monitor the fiscal policy process in order to make it easier to avoid overspending in good times and thus to limit deficit bias.
As Luxembourg plans for economic recovery, it would be a mistake to sideline the environment, said Angel Gurría. “I would rather argue that in responding to the crisis, environment should be part of a comprehensive strategy to relaunch economic growth and to restructure the economy”, he added.
The German job market has weathered the crisis well, said OECD Secretary-General Angel Gurría. Presenting the Economic Survey of Germany in Berlin, he said structural reforms were needed to ensure the sustainability of public finances and of long term growth. Stimulating domestic investment would help reduce the current account surplus, he added.