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The 2014 survey calls for structural reforms in competition and improving the links between the labour market and the education system to restart income convergence.
The Czech economy is finally coming out of a prolonged recession but must take further steps to speed up income convergence towards the euro area countries, according to the OECD’s latest Economic Survey of the Czech Republic.
"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 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.
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."