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Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country’s public finances has been substantial.
Turkey is recovering from its most severe recession in several decades.
In the 2000s, Turkey has enjoyed rapid catching–up. This was possible despite the adverse business environment, as the semi–formal and informal economy had a significant contribution to the expansion of the private sector.
Turkey is recovering from a severe recession. Once growth gains full speed, the authorities will likely face the challenge of widening external imbalances and of ensuring a smooth functioning of the financial markets.
The OECD’s latest economic survey of the Euro Area, to be published on Monday 13 December 2010, looks at how the the currency bloc has reacted to the severe recession and sovereign debt emergencies that followed the global financial crisis.
The OECD’s latest economic survey of the Slovak Republic, to be published on Thursday 25 November 2010, looks at how the global recession impacted the country’s trade-dependent economy, as well as factors that have boosted recovery at an above average pace.
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Overview - Australia Economic Review 2010
The process of fiscal consolidation and the need to step up the poor long term economic performance provide an opportunity to implement tax measures to improve efficiency and rebalance the economy.
Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.
Indonesia has made considerable progress over the years in improving the social conditions of its population, especially among disadvantaged groups, not least by raising government spending and strengthening social protection programmes.