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Impressive productivity performance during the last decades has weakened since 2007, reflecting the 2008-09 recession but also a poor performance in important sectors, like the information and communication technology sector.
Portugal has started on a long road of economic adjustment to boost growth and reduce debt. A range of structural reforms are needed to restore fiscal sustainability, improve labour market performance and rebalance the economy towards tradables.
More balanced and higher long-term growth calls for strengthened external competitiveness and greater private saving through adjustments in macroeconomic policy and ambitious labour market and educational reforms.
Strengthening education outcomes and innovation and putting public finances on a sustainable path would increase potential economic growth in the United States and, insofar as reforms increase equity in education opportunity and consolidation measures are progressive, reduce economic inequality.
An ageing population and continued globalisation requires measures to secure fiscal sustainability (including health care reform) as well as adaptation of policies for the business sector and labour market reform to improve resource allocation to boost long-term growth.
Canada has weathered the global economic crisis comparatively well but will have to become more productive to sustain its high standard of living, according to OECD’s latest Economic Survey of Canada.
Korea faces the challenge of reversing rising inequality while sustaining robust economic growth.
Korea, which has had the highest growth rate of greenhouse gas emissions in the OECD area since 1990, adopted an ambitious Green Growth Strategy in 2009.
While Korea remains one of the fastest-growing OECD economies, its potential growth rate per capita is projected to decelerate from around 4% during the current decade to around 2¼ per cent during the 2030s.
What: The OECD Economic Survey of Canada provides an in-depth analysis of the Canadian economy and gives recommendations for economic policy. The report covers macroeconomic developments, monetary policy, financial market regulation as well as fiscal policy.