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The financial crisis did not spare the French economy, which is facing a deep recession in 2009, even if the situation is less severe than elsewhere. Once the recovery begins, a priority will be to phase out the general government budget deficit but, given the already very heavy burden of taxes and compulsory contributions, public finance consolidation will require strict control over expenditures.
Despite the great progress France has made in opening its markets for goods and services, and in strengthening the overall framework for competition, there are still regulatory barriers to entry in many sectors, particularly in retail trade and various professional services. The emergence of real competition in the retail market for gas and electricity and in telecommunications (provision of high speed Internet through a fibre optics
Monetary policies and inflation targeting in emerging economies: Executive Summary. Several emerging-market economies have adopted inflation targeting as their institutional framework for conducting monetary policy.
Several emerging-market economies have adopted inflation targeting as their institutional framework for conducting monetary policy. This volume focuses on the experiences of Brazil, Chile, Czech Republic, Indonesia, South Africa, and Turkey.
Czech, , 366kb
Silný ekonomický růst posledních let je povzbudivý a rizika spojená s inflací zvládnutelná. Existují však některé výzvy. Nejdůležitější z nich je zabezpečení fiskální udržitelnosti reformou veřejných financí tak, aby se česká ekonomika lépe vypořádala se stárnutím populace. Reformy by měly zahrnovat:• Ambicióznější stanovování cílů pro deficit rozpočtu podpořené zlepšením rozpočtování na centrální úrovni a zdokonalením fungování
Estonia is facing its most challenging economic situation since the early 1990s. Past overexpansion was financed by rapid credit growth. Growth was in general biased towards domestic demand.
Estonia is particularly well regarded in ICT network readiness and well-functioning e-government. However, the share of production in high tech and knowledge intensive sectors is relatively low.
More flexible labour markets will be a key adjustment mechanism in the current recession as well as in the medium term if Estonia is to become a knowledge-based economy.
The key challenge is to develop gradually its counter-cyclical role without jeopardizing sustainability.
Co-operation is required between regional financial supervisory authorities to mitigate risks to financial stability as well as cyclical volatility in housing and construction. Financial stability could be strengthened by increasing households’ financial literacy.