Public finances are under pressure around the world. We asked finance ministers from a range of countries: “What actions is your government taking to bolster public finances, while upholding growth and services?”
Public debt in the OECD area is fast approaching 100% of GDP, as the financial and economic crisis badly deteriorated government budgets. A concerted move towards more balanced budgets is needed, while preparing the ground for economic growth.
Turkey is recovering from its most severe recession in several decades.
Some countries are reconsidering their approach to the provision of sustainable and adequate pensions. OECD experts have reiterated several key recommendations that should be taken into account during this process.
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During the financial crisis many governments aided both the financial and non-financial sectors in their countries on an unprecedented scale. These emergency measures have in some cases taken precedence over competition rules. In particular the fact that governments helped some banks but not others has weakened competition in some markets, with “too big to fail” institutions commanding a higher market share than previously. This has
In this interview, Prof Zheng, a renowned Chinese expert on pensions, discusses the necessary reforms – in particular tax reforms – that are needed in order to further develop private pensions in China. The enterprise annuity system, as the private pension system in China is called, should become a key part of the retirement income system, but there are some obstacles that needs to be addressed first.
Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises.
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This chapter discusses the size of current consolidation requirements and the pace at which budget positions should be strengthened in the context of a set of macroeconomic projections to 2025.
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.
The 2010 Global Forum focused on innovative governmental policies intended to enhance the security and adequacy of defined contribution (DC) retirement plans and pension reform processes and recent developments in Asia-Pacific.