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The new government has set an ambitious course of economic and social reforms. Much progress has already been made. Yet productivity remains insufficient and more needs to be done to strengthen institutions.
After the crisis, Belgium needs to reduce public debt and secure fiscal sustainability via reforms to increase the internationally low effective retirement age, boost cost-efficiency in healthcare, and better utilise transport infrastructures.
L'Italia ha compiuto notevoli progressi rafforzando le finanze pubbliche e adottando una vasta serie di riforme destinate ad incoraggiare la crescita economica. Il nuovo Governo deve garantire il rafforzamento di tali progressi e il perseguimento della medesima strada, secondo Angel Gurría.
Italy took courageous decisions and engaged reforms to address the crisis and create the necessary conditions to ensure economic recovery. The economic situation remains fragile but you are making visible progress and it is crucial to maintain the reform momentum, said OECd Secretary-General.
Italy has made considerable progress in strengthening its public finances and adopting wide-ranging reforms to boost economic growth. The new government must build on past achievements and ensure that they are sustained and reinforced, says a new OECD report.
The coming expansion will be driven by exports, and should increase business investment and employment and bring an end to deflation. While we are encouraged by these developments, it remains critically important for Japan to address extremely high and still rising levels of government debt and other challenges posed by its ageing population, said OECD Secretary-General.
Japan's key challenges are to achieve sustained growth and fiscal sustainability. The three-pronged strategy combining bold monetary policy, flexible fiscal policy and a growth strategy should be effectively implemented to realise these goals.
Japan is poised for an economic expansion, but long-term growth prospects remain contingent on additional efforts to revitalise the economy and reduce unsustainable levels of public debt, according to the OECD’s latest Economic Survey of Japan.
Informality has important implications for productivity, economic growth, and the inequality of income. In recent years, the extent of informal employment has increased in many of Mexico's states, though highly heterogeneously.
Legal systems provide the basic institutions for firms and markets to operate. Their quality can have important consequences on the size distribution of firms, who rely on them for contract enforcement. This paper uses the variation in legal system quality across states in Mexico to examine the relationship between judicial quality and firm size.