The German economy has recovered well from the most severe economic crisis of our lifetime. In spite of continued global economic turbulence, growth is now steady at 1.4% in 2015 and close to 1.3% in 2016. We are expecting this growth to improve slightly to 1.7% in 2017.
I want to congratulate Deputy Secretary-General Stefan Kapferer on his move to become the head of the German Association of Energy and Water Industries (BDEW).
We in the OECD share a conviction with many of you: “Policies to foster innovation, raise productivity in an inclusive way and reduce inequality at the same time are critical for the future well-being and the future of our societies.”
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Key findings on the German health care system
2015 is the year in which we aim to develop a new architecture for financing development for the Sustainable Development Goals and to build, during COP 21 in Paris, a new framework to tackle climate change. In all these arenas, decisive action for women’s rights and enhanced gender equality can play a crucial role.
Trade and tourism are central to today’s global economy and must be underpinned by efficient and reliable transport systems, which are vital for the smooth functioning of global value chains. Despite the importance of the transport sector, it remains heavily regulated. Furthermore, transport policy can and should play a role in tackling climate change.
Skills drive economic growth and can boost social cohesion. With growth increasingly driven by productivity improvements, the future economic and social well-being of OECD countries will depend upon providing our young people with the right skills to succeed in the 21st century job market.
We, in the OECD, share the conviction that investment is one of the key cylinders of the global economy – but it needs new fuel and probably another kick-start to function again properly, in order to support a stronger and more inclusive recovery in Europe and on a global scale.
Sustainable supply chains can transform global trade and development by ensuring that businesses behave responsibly even in countries where social, environmental and human rights standards are weak or not adequately enforced. We have witnessed too often the disastrous consequences that can result if this is not done.
"We have to transition to more transparent, multilateral mechanisms. Thanks to your hard work, taxation is finally catching up with globalisation, making it more redistributive, harnessing its potential for social progress and justice, making people’s lives better. People sometimes forget that this is what taxation, indeed what economics is all about.", said the OECD Secretary-General at the Global Forum.