The pace of reform has accelerated in those OECD countries where it is needed most, says the latest Going for Growth report. It identifies the specific action needed to help governments steer their economies out of the crisis, stimulate growth and create jobs.
Germany recovered rapidly from the 2008-09 recession, with GDP topping pre-crisis rates during 2011 and unemployment falling significantly. Public finances are sound, but further reforms are needed to transform its growth model to thrive as a knowledge-based economy.
Europe's sovereign debt crisis has exposed structural weaknesses in economic governance that now threaten the entire euro region. Efforts to reinforce public finances and preserve the currency union must go further than solutions proposed to date.
Switzerland has made a broadly balanced recovery from the economic crisis, but slower activity in Europe and pressures on the Swiss franc weigh on the near-term outlook, according to the latest Economic Survey of Switzerland.
Given current levels of uncertainty, it is quite a challenge to discuss the outlook for the global economy in the months to come. But I will take the risk, and share the OECD’s assessment of the forces shaping the near-term outlook, the risks surrounding our projections and the major policy challenges facing many OECD countries.
OECD Secretary-General Angel Gurría has welcomed the measures adopted by the Italian government to address fiscal sustainability while boosting growth and equity.
The Czech economy’s export-driven recovery is slowing as weak activity Europe curbs exports. Swift implementation of new reforms is needed to ensure sustainable, inclusive long-term growth and better resilience to external shocks, according to the latest Economic Survey of the Czech Republic.
The Brazilian economy has made a rapid recovery from the global economic crisis, but further reforms are necessary to boost long-term growth, spur investment and further reduce poverty, according to the OECD’s latest Economic Survey of Brazil.
The Irish economy still faces tough challenges as the country exits from a deep recession and banking crisis, but its long-term prospects now appear better than many of the other hard hit European countries, according to the OECD’s latest Economic Survey of Ireland.
International migration fell in 2009, reflecting lower demand for workers in OECD countries for the second consecutive year after a decade of growth, according to a new OECD report.