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The Danish economy is going through a deep and protracted recession but the authorities have taken substantial measures to combat it. Further policies are required to minimise adverse long-term consequences on growth.
Labour productivity decelerated due to a slowdown in capital deepening related to the trend increase in employment. Policies in the areas of research and development, innovation, entrepreneurship, product market regulation and taxation could raise productivity growth.
Following the severe contraction of the Irish economy, Gurría indicated that stabilising the financial system, tackling unemployment, and raising competitiveness will be the main economic challenges for Ireland.
The fiscal consolidation challenge for Ireland is severe, the underlying budget balance having moved abruptly from surplus to a large deficit.
Following the severe contraction of the economy, the main economic challenges in rebalancing the economy include raising competitiveness, restoring the financial system to health, fiscal consolidation and avoiding high long-term unemployment.
Living standards in Ireland will remain high, despite the severe contraction, but stronger structural policies would encourage sustainable long run growth.
Ireland is in severe recession, following several years of high but ultimately unsustainable growth and rising imbalances.
The Irish labour market is undergoing a severe adjustment following the sharp fall in output, which has been concentrated on labour intensive sectors.
While Mexico’s growth performance has gradually improved over the past decades, its convergence toward OECD countries has been less rapid than in several other emerging markets.
Despite progress over the past two decades Mexico’s health and education indicators remain well below the average of the OECD and some of its Latin American emerging market peers.