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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, Mr Gurría said. Decisive action to restore confidence and support demand is needed now, he added.
Poland has been a strong performer across the OECD through the global economic crisis, growing much faster than most other countries and making impressive steps toward reducing the income gap with its European Union partners, according to the OECD’s latest economic survey.
Euro area finance ministers meeting this week need to boost the firepower of the European stability funds to at least one trillion euros in order to restore market confidence, OECD Secretary-General Angel Gurría said today.
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Statlinlk to graph - EU Survey 2012
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Overview - Euro Area Survey 2012
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Overview - Eeuropean Union Survey 2012
The OECD’s latest economic survey of the Euro area and European Union, to be published on Tuesday 27 March 2012, looks at the measures and structural reforms needed to boost growth, rebalance the region’s economies and strengthen governance.
Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.
Az OECD legutóbbi Magyarország országtanulmánya szerint gyors cselekvés szükséges a magyar gazdaság stabilizálásához és egy tartós gazdasági fellendülés alapjainak megteremtéséhez.
Reducing the extent of inactivity and promoting labour supply is essential to foster labour market outcomes in Hungary in the medium term.