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The global economy currently faces serious challenges and policy action is needed to restore confidence and put the economic recovery onto a sustainable growth path.
The OECD 50-year Global Scenario helps to highlight key global challenges and how they are connected.
Turkey’s current account deficit widened to almost 10% of GDP in 2011 and has been narrowing only gradually since. An important question is to what extent Turkey’s current account deficit is excessive.
Uncertainty is inherent to forecasting and assessing the uncertainty surrounding a point forecast is as important as the forecast itself.
The forecasting uncertainty around point macroeconomic forecasts is usually measured by the historical performance of the forecasting model, using measures such as root mean squared forecasting errors (RMSE).
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This chapter considers long-term prospects and risks for the world economy.
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EO 90 General Assessment
The global economy is recovering, but confidence is extremely uneven across different regions, according to the OECD’s latest Economic Outlook. European governments must take greater action to ensure that the crisis in the euro area does not derail the recovery.
Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges.