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House prices have risen strongly in past years, helped by rising incomes and declining interest rates. At the same time, construction of new dwellings has remained fairly muted and has only recently shown signs of picking up.
As in other catch-up countries inflation is likely to stay high going forward due to nominal convergence. To better cope with the risk of a too rapid pick up of wages, three main areas for improvement are discussed in this chapter.
M. Gurría stated that the main policy challenge for the Slovak Republic is to sustain high trend growth while adjusting to life in the euro area. This requires structural reforms in the areas of labour and product markets, fiscal policy and in the housing sector.
OECD’s latest economic survey of the Slovak Republic, to be published on Monday 9 February 2009, looks at such challenges as the adoption of the euro and the impact of the global slowdown. It discusses how increasing flexibility would strengthen sustainable economic growth.
The current crisis offers governments the opportunity of combining emergency action with the important structural reforms needed to improve long-term growth and resilience in their economies, according to OECD’s latest Going for Growth.
This paper develops and applies a simple “conditional growth” framework to make long-term GDP projections for the world economy.
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At the World Economic Forum in Davos, Mr. Gurría presented the OECD strategic response to the financial and economic crisis which provides elements and analytical tools to help governments redesign and restart the financial system, but also a comprehensive strategy to put the global economy back on a sustained growth trajectory.
Unemployment in South Africa is extremely high and unevenly distributed, being concentrated among young less skilled blacks.
Traditionally, the Norwegian compulsory education system has focused strongly on the linked goals of equal opportunities to learn, comprehensive and inclusive education.