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The New Growth Strategy aims to create demand and jobs through regulatory reform and fiscal measures.
Traditional Japanese labour market practices, which benefited both workers and firms during the high-growth era, are no longer appropriate in the context of slow economic growth and rapid population ageing.
Greece is in deep crisis after years of fiscal laxity and weak structural reforms. To return to sustainable growth, the fiscal consolidation and product and labour market reforms underway should continue, be closely monitored and strictly implemented.
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries.
Education has been given high priority by India’s central and state governments and continues to grow fast. Nevertheless, high drop-out rates and low attendance continues to be a challenge at lower levels and enrolment at higher levels remains modest by international standards.
From the mid 1980s, New Zealand was widely considered to be a leader in liberalising product market regulation (PMR).
The Estonian fiscal position is much better than in many OECD countries, the country stands out for having a rather lean government sector and the authorities are striving for efficient use of existing resources.
Belgium weathered the crisis well. Nevertheless, with public debt at 97% of GDP, a sustained effort to restore fiscal sustainability is needed. To boost subdued potential growth, reforms to increase employment are required while more reliance on environmental taxation should secure greener growt
The road ahead will not be easy, though: financial market concerns about sovereign debt are extending to a growing number of countries and now they threaten to include Belgium. Thus fiscal sustainability and higher growth are the backbone of our main recommendations in this Survey. With a public debt at 97% of GDP, a renewed and sustained effort to prefund ageing costs is needed, including revisiting intergovernmental prefunding
Austria is recovering from the crisis which has increased fiscal vulnerabilities. The authorities should strengthen reforms so the economy is more resilient to fiscal pressures, and reinforce drivers of growth. The Survey discusses areas to improve fiscal performance, including health care r