The government and citizens of Greece continue their arduous efforts to put the economy back on a sustainable path, despite seemingly insurmountable challenges. The implementation of reforms is key to getting through this tough period and ultimately equipping people with the tools they will need to share the benefits of growth, said OECD Secretary-General.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
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, with the burden of the adjustment fairly shared, according to the OECD Secretary-General.
Drawing on the OECD’s expertise in comparing country experiences and identifying best practices, this book summarises OECD’s policy advice for Greece in a wide variety of policy areas. It proposes a strategy to correct imbalances and modernize the economy, accompanied by action plans in public administration and budgets; pensions; the governance of state owned enterprises; tax policies; employment and social policy; education; new sources of growth, innovation and green growth; competition; and the complex political economy problems associated with reforms in the public sector.
OECD' Secretary-General welcomes the fiscal consolidation plan and loan package agreed by the Greek government, its Euro area partners and the International Monetary Fund.
In this interview for the German radio Deutschlandfunk, Angel Gurría warns that delays are threatening the stability of the international financial system and could spread the crisis to other countries.
In his remarks to the Central Bank of Greece, Mr. Gurría offered the OECD support, expertise, and policy experience to help Greece modernise its economy and put it on a path of sustained growth.
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This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.
In an article published in Kathimerini, A. Dean says it's urgent for the government to improve the financial situation and the efficiency of its public sector. It's the only way to restore trust in public finances, maintain a high economic growth rate and improve fairness among generations.