The road ahead will not be easy, though: financial market concerns about sovereign debt are extending to a growing number of countries and now they threaten to include Belgium. Thus fiscal sustainability and higher growth are the backbone of our main recommendations in this Survey. With a public debt at 97% of GDP, a renewed and sustained effort to prefund ageing costs is needed, including revisiting intergovernmental prefunding
Austria should seize the opportunity provided by its robust, export-led recovery to strengthen spending reforms and reinforce domestic drivers of economic growth, said Angel Gurría.
India’s economy has ranked among the best performers over the past decade, and poverty has been falling faster than in many other emerging economies. India now has the opportunity to move towards sustained and socially inclusive double-digit growth if the right policies are put in place, according to the OECD Secretary-General.
The global recovery is becoming self-sustained and more broad-based but is taking place at different speeds across countries and regions. Tackling high unemployment, fiscal consolidation and global imbalances remain the key challenges, says OECD Secretary-General.
L’economia italiana si sta riprendendo e noi concordiamo con il governo nell’attenderci per l’anno prossimo una crescita leggermente migliore di quest’anno”, ha dichiarato Angel Gurría. “Non dobbiamo tuttavia sottovalutare il lavoro che resta da svolgere. L’Italia deve ancora fare dei passi in avanti per rafforzare la crescita e diminuire il rischio di futuri shock economici
Well targeted macroeconomic and structural policies would ensure long-term growth for the Italian economy while contributing to healthier public finances, according to the OECD Secretary-General presenting the Economic Survey of Italy in Milan.
Angel Gurría declared that "building on the trust we have established over the years, Russia is advancing on the accession track to become a member of the OECD. The accession process can be seen as a joint initiative to support Russia’s objective of modernising its economy."
"The OECD has absolute confidence in Japan’s capacity to overcome the Great East Japan Earthquake, building on its unique stock of human capital, financial wealth, technology and discipline.", said Angel Gurría for the launch of the OECD’s Economic Survey of Japan in Tokyo.
Cutting the public deficit through a stricter budgeting framework and improving the housing market with taxation and funding reforms are among the recommendations in the OECD’s latest Economic Survey of France.
The capacity of fiscal and monetary policies to further support the recovery is pretty much exhausted, so a new emphasis on implementing structural reforms is the only way to boost growth and job creation, said OECD Secretary-General during the presentation of Going for Growth 2011 in Budapest.