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Meeting of NERO, 25 June 2010
OECD Secretary-General Angel Gurría hailed the budgetary measures announced today by U.K. Chancellor of the Exchequer George Osborne as a courageous move that will underpin fiscal consolidation while supporting economic recovery.
The global crisis exposed weaknesses in the Hungarian financial system that pose risks to financial stability, as discussed in this working paper.
- Economic Survey of Hungary 2010
Productivity growth has declined since the late 1990s, slowing the catching-up process. Structural reforms to strengthen competition, entrepreneurship and innovation would go a long way toward enhancing it.
- Economic Survey of Chile 2010
Product market regulation on average is Slovenia does not appear particularly stringent, but heavy state involvement and high market concentration in several industries call for the gauging of competitive pressures in Slovenian industries.
Chile has made impressive progress in educational attainment. Yet, despite recent improvements, outcomes, as measured by PISA results, still need to catch up with OECD standards and equity problems should be addressed.
In an improving economy, the new Government is faced with the main macroeconomic challenge of moving from an expansive fiscal stance to focusing on securing sustainable public finances, while implementing measures that secure occupational pensions and enhance the job content of the recovery
Speaking at the launch of the Perspectives on Global Development 2010, Angel Gurría says that the centre of economic gravity is moving from West to East, from the industrialised economies to the large developing economies, particularly China and India. The latest forecasts anticipate that emerging and developing economies will account for nearly 60% of world GDP by 2030.
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Korea’s strong recovery from the global downturn has been driven by buoyant export growth and an effective policy response, including large-scale fiscal stimulus. Maintaining growth depends on raising productivity, particularly in services, and reforming the labour market so as to reduce dualism and promote greater labour force participation. It is important to encourage corporate restructuring by scaling back support for SMEs. Rapid