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In 2008, the Czech government implemented a major overhaul of the personal income tax (PIT), replacing the previous progressive rate schedule with a single 15% rate levied on an enlarged base.
This paper presents in summary form the findings that emerge from a study of 20 structural reform episodes in 10 OECD countries.
This paper takes stock of recent labour market developments, highlights some of the key uncertainties, and discusses the policy options available to damp any further, structural deterioration in labour markets and facilitate an eventual, sustained, job-rich recovery.
The key tables on economics comprise national accounts data and economic statistics and indicators. These include gross domestic product (GDP), government and private spending, inflation rates, interest rates, unemployment rates and leading indicators.
Poland recorded strong relative performance during the crisis, but implementing a credible fiscal consolidation is the main challenge. The withdrawal of monetary stimulus should begin soon if fiscal policy is not tightened significantly in the immediate future.
Poland recorded a strong relative performance in 2009 given the global downturn. The survey looks at how to ensure balanced growth going forward, strengthen public finances, prepare for euro adoption and make the most of globalisation.
Major structural reforms are necessary to prepare for euro adoption, all the more as the process of real and nominal convergence remains largely incomplete. This requires a substantial strengthening of alternative adjustment mechanisms to domestic interest- and exchange-rate changes.
The Polish economy has become increasingly connected with the international economy, but challenges are widespread to improve Poland’s position in global markets.
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Speech by Andrew Dean, Director, OECD Economics Department. Launch of the Economic Survey of Poland 2010
Finland was badly affected by the global recession and fiscal sustainability is threatened. Restraining spending growth in municipalities and pursuing retirement and labour market reforms would improve the fiscal outlook. Measures to combat misuse of the tax system would mitigate rising inequali