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The United States faces challenging budgetary prospects, as do most other OECD countries. The federal budget deficit widened considerably during the recession, reaching about 10% of GDP in both 2009 and 2010, reflecting the operation of automatic stabilizers and the policy response to the crisis
The consensus view of scientists is that the build-up of greenhouse gases (GHG) in the atmosphere is causing global warming. To reduce the probability of severe climate change impacts and costs occurring, global GHG emissions need to be reduced substantially over coming decades.
Sustainable development is a key theme in policy making in Norway. Norway can and should follow through more strongly the logic of its pioneering use of economic incentives to further sustainability goals.
Congestion has become a burden for the Dutch economy. Reforms to the transport system, including public transport, together with a more flexible housing market should reduce the economic and environmental burden of transport, thereby improving prospects for sustainable long term growth.
Portugal has made significant progress in modernising its economy over recent years but the country needs to further pursue structural reforms to restore competitiveness and thus move to more dynamic and sustainable growth.
The US economy is slowly recovering from the severe recession caused by the financial crisis. While monetary and fiscal support remains essential in a context of high unemployment, the focus will subsequently need to shift to reducing the large budget deficit and reversing the rise in public deb
Supported by substantial stimulus measures, the US economy has started to grow again after the economic crisis but Mr. Gurría argued that efficient spending would be key to strenghten public finances. In this respect, the recent health-care reform, which includes measures to reduce the growth in health-care spending, is an important landmark, Mr. Gurría stated.
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Korean version of Health-Care Reform in Korea(Economics Department Working Papers No. 797)
Summary of Economic Surveys of Turkey
Turkey was directly affected by the global crisis but showed considerable resilience since then. The strong macroeconomic policy framework provided support. With the recovery under way, a golden opportunity for structural reforms arises from the sharp drop in capital costs.