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English, , 249kb
The strong growth that has emerged in recent years is encouraging and the risks to underlying inflation are manageable. However, there are policy challenges. Most important is a need to ensure fiscal sustainability through public-finance reform to put the economy in a better shape to cope with population ageing. Reforms should entail:• More ambitious deficit targeting backed by improvements to central government budgeting and to the
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 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.
The key challenge is to develop gradually its counter-cyclical role without jeopardizing sustainability.
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.
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.
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.
Trends in demography, technology and costs will exert mounting and unaffordable pressures on health spending, underlining the need to control health care costs and to put limits on public coverage.
New Zealand’s living standards remain well below the OECD average, a situation attributable to low productivity, which in turn is related to economic geography as well as structural policy factors.
Macroeconomic imbalances, along with the present reversals in global risk appetite and credit availability, present a risk of sudden and costly macroeconomic adjustments.