US and Europe facing separate growth tracks

Economic growth in the G7 countries is expected to be firmer through the first half of 2012, but the recovery remains fragile.

Paradigm lost: Rethinking economics and politics  

In many countries, government debt is now at levels unprecedented in the post-war era. Deveraging is necessary but bringing confidence and growth back requires more than just austerity.

The unfinished business of making Europe work

Weak financial conditions, fiscal consolidation and economic adjustment are restricting demand in the short-term before the long-term benefits on stability and growth are felt.

Sovereign debt and financial stability

In-depth analysis from the OECD addresses the financial market dimension of sovereign debt challenges to assist policy makers in designing, adopting, and implementing appropriate policies.

Tax: Governments concerned that some corporations unfairly claim losses to avoid taxes

The economic crisis means global corporate losses have increased significantly. Though most of these claims are justified, some corporations use ‘aggressive tax planning’ to avoid taxes. Governments are working together to detect and deter these undue tax advantages which can have a strong impact on public finances.

The global economy is moving away from the cliff edge

Economic growth in the G7 countries is expected to be firmer through the first half of 2012, but the recovery remains fragile and will likely proceed at different speeds in North America and Europe, said OECD Chief Economist.

Economic Surveys: India

The Indian economy has been catching up quickly in the past two decades, and weathered the global recession well. Wide-ranging reforms and increased investment have lifted potential growth to almost 9%, the highest in Indian history. The government should now step up efforts to restructure public expenditure and reduce the fiscal deficit.

Reducing public spending

The latest data show that average government spending in the OECD area now exceeds 45% of GDP, up from slightly more than 40% in pre-crisis 2007. A reduction in public expenditures, and in some cases revenue increases, are required in many countries.

See also

• Adjusting fiscal balances for asset price cycles
• Bringing French public debt down: the options for fiscal consolidation
• Achieving fiscal sustainability in Japan
• Restoring fiscal sustainability in Spain