Spain’s government has introduced ambitious consolidation measures, which should yield a sizeable improvement in discretionary fiscal efforts.
The single most important challenge China is facing is that of the shift from export-led growth to an economic and growth model driven by domestic consumption and a better quality of life for its citizens, according to OECD Secretary-General Angel Gurría.
Economic growth will be subdued this year and next in the United Kingdom, but the government must continue its difficult fiscal consolidation and structural reform programmes to return the economy to a sustainable path, according to the OECD Secretary-General presenting this report in London.
"On behalf of all of us working at the OECD, I would like to transmit our deep sympathy and support in these difficult circumstances. Our thoughts are with the Japanese people, especially those who lost their loved ones." OECD Secretary-General Angel Gurría
Updated continuously. GDP in billions of US$, in volume and at current prices and purchasing power parities. Source: OECD Annual National Accounts Database .
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Rising energy prices stemming from turbulence across N. Africa and the Middle East will only have a modest impact on GDP and inflation in the near term, according to a new OECD report.
Apparent characteristics of the Hungarian banking market such as large profits and high margins suggest weak competitive pressures. Weak competition in turn, may reduce efficiency in a lack of pressures to converge to marginal cost and to stimulate managerial efforts to reduce X-inefficiency.
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Global current account imbalances widened markedly in the years preceding the global economic crisis.
The growing burden of healthcare expenditure on public budgets is hardly a recent phenomenon. For 15 years before the onset of the financial crisis, health spending per capita had been going up by over 4% per year in real terms across the OECD area-much faster than growth in real incomes. Nearly all OECD countries will soon have nearuniversal healthcare coverage-an historic achievement. But health now accounts for over 9% of GDP on