Pioneered in Myanmar, the Philippines and Uruguay, MDCRs are being incorporated in some OECD country programmes and several countries are about to start the review process.
Uruguay has made remarkable progress over the past decade. Stable macroeconomic policies and a favourable external environment have permitted brisk growth and the financing of social policies. Substantial improvements in several dimensions of human well-being have occurred during this period, alongside considerable reductions in external risks. The conditions ahead, however, may present challenges to maintaining performance. Overcoming these challenges will require finding the appropriate balance between long run objectives and macroeconomic and fiscal stability.
One of the main obstacles to economic growth is the insufficient and inadequate provision of human capital and skills. A number of challenges remain for education, which, together with fiscal policy, are key means of reducing inequalities and sustaining economic growth. In addition, Uruguay needs to address labour shortages to avoid constraints on future growth, especially as exports become more skills-intensive. It is important to orient social policies and expenditures towards the most vulnerable groups.
Facts and figures of Uruguay
Chapter 1. How’s life in Uruguay? Historical performance and an assessment of well-being outcomes
Chapter 2. Structural trends and economic performance in Uruguay
Chapter 3. Inequalities in Uruguay
Chapter 4. Macroeconomic policies for sustaining growth and social inclusion in Uruguay
Myanmar’s success in achieving stable and sustainable growth will depend vitally on its ability to develop the institutional and social capital necessary to maintain macroeconomic and financial stability, to ensure the rule of law, to achieve environmentally sustainable development and to create an enabling environment for the private sector. To be sustainable, growth also needs to be more equitable and inclusive. Seizing the momentum created by the country’s opening and internal peace process will be imperative.
Moreover, Myanmar’s increasing population provides a demographic dividend which needs to be reaped in the next couple of decades to boost the potential of the economy. After that, the population will begin ageing and Myanmar risks getting old before the incomes and living standards of its people can significantly improve.
Facts and Figures
Chapter 1. Myanmar at a crossroad
Chapter 2. Achieving stable and sustainable development
Chapter 3. For more inclusive growth and equitable opportunities
The way ahead for Myanmar
For more information:
Multi-dimensional Review of Uruguay
Multi-dimensional Review of Myanmar