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Rapid economic growth over the past two decades has substantially increased employment in Luxembourg, which has largely been met by in–flows of cross–border workers and, to a lesser extent, immigration.
European energy policy faces a number of interrelated challenges, including making the transition to a low–carbon economy, increasing cross–border competition in electricity and gas markets and diversifying Europe’s energy supply.
The potential growth rate of the economy has been low for a long time and the crisis has had a further adverse impact, as discussed in this working paper.
Further fiscal easing in late 2008 and early 2009 contributed to a markedly widening fiscal deficit in 2010. A newly enacted fiscal rule will help bring public finances back to a sustainable path, as discussed in this working paper.
The future growth path in Luxembourg is likely to be weaker than in the past. Pension reform, together with fiscal consolidation, is required to put the public finances on a sustainable footing, while adaptability of the labour market need to be improved.
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The future growth path in Luxembourg is likely to be weaker than in the past. Pension reform, together with fiscal consolidation, is required to put the public finances on a sustainable footing, while adaptability of the labour market need to be improved to avoid long-term unemployment.
Poland recorded strong relative performance during the crisis, but implementing a credible fiscal consolidation is the main challenge. The withdrawal of monetary stimulus should begin soon if fiscal policy is not tightened significantly in the immediate future.
Poland recorded a strong relative performance in 2009 given the global downturn. The survey looks at how to ensure balanced growth going forward, strengthen public finances, prepare for euro adoption and make the most of globalisation.
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Speech by Andrew Dean, Director, OECD Economics Department. Launch of the Economic Survey of Poland 2010
Finland was badly affected by the global recession and fiscal sustainability is threatened. Restraining spending growth in municipalities and pursuing retirement and labour market reforms would improve the fiscal outlook. Measures to combat misuse of the tax system would mitigate rising inequali