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Israel’s economy has shown resilience during the global recession, but more active education and employment policies – particularly targeted at minority groups – are needed to bolster its economic performance and bridge deep divisions within its society, according to the OECD.
Israel is supporting its business sector and promoting competition in similar ways to many OECD countries, but there is room for improvement.
Recovery from the downturn is underway in Israel, helped by a broadly appropriate policy response. However, economic challenges remain for fiscal policy, education, employment levels, poverty reduction and the business environment.
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Effective macroeconomic stabilisation policies along with market-orientedstructural reforms have helped support a high average rate of growth. Also,the economy has weathered the recent global downturn well, and the policyresponses have been generally appropriate. However:• The Bank of Israel should cease heavy exchange-rate intervention to avoiddamaging its credibility.• As elsewhere, the authorities need to reflect on financial
Despite some best-practice policies, challenges remain in raising employment and lowering poverty, particularly among Arab-Israeli and Ultra-orthodox households.
Israel has weathered the recent recession very well and the policy responses have been appropriate. Nevertheless, long-term fiscal sustainability needs to be reinforced by bringing down public debt and the fruits of economic growth should be better redistributed to low-income households, said the OECD Secretary-General during his presentation of the report to the Prime Minister Netanyahu.
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The global crisis will have a lasting impact on the Swiss economy. Despitethe recession, Switzerland has weathered the crisis better than otherOECD economies in part owing to exports in goods less sensitive to thebusiness cycle and resilient domestic credit markets, in part reflecting theabsence of a marked housing cycle. Swift intervention by the authorities tosupport the country’s largest bank also helped avoid an aggravation of
Individual elements in the Belgian tax system affect the growth process through different channels and to a varying degree.
In the years preceding the onset of the global financial crisis, the Central Bank of Russia (CBR) had two goals: to reduce inflation and limit the real appreciation of the rouble.
The paper discusses the current state of fiscal relations across levels of government in Belgium and how it has developed over time.