The global economy is stuck in a low-growth trap that will require more coordinated and comprehensive use of fiscal, monetary and structural policies to move to a higher growth path and ensure that promises are kept to both young and old, according to the OECD’s latest Global Economic Outlook.
Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, according to the OECD’s latest Interim Economic Outlook.
On behalf of the OECD, Secretary-General Angel Gurría tonight condemned in the strongest terms the barbaric terrorist attacks perpetrated in Paris on the evening of 13 November.
In a note presented to French Economy Minister Emmanuel Macron today (only available in French), the OECD estimates that five sets of measures in the Macron Law could potentially increase France’s GDP by 0.3% over 5 years and by 0.4% over 10 years.
OECD Secretary General Angel Gurría welcomes the initiative of President Francois Hollande and Chancellor Angela Merkel to put forward a structural and ambitious response to the current refugee crisis.
With the passage of the law for Growth, Activity and Equality of Opportunities, the French government has taken a step forward in its efforts to strengthen the competitiveness of the economy,” OECD Secretary-General Angel Gurría said today.
To commemorate Latin America and Caribbean Day, first established in 2011 by the French Senate, OECD Secretary-General Angel Gurría was awarded the Senate’s Médaille de la Haute Assemblée. This honour was bestowed upon him by the President of the French Senate, Mr. Gérard Larcher, in recognition of the Secretary-General’s major contribution to the strengthening of relations between Latin America and France.
France has begun implementing a series of important pro-growth structural policy measures, but boosting medium-term growth will require more ambitious action to reform the labour market, curb high levels of public spending and taxation and create jobs, according to the latest OECD Economic Survey of France.
Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.
Secretary-General Gurría brings forward his return to France to join President Hollande and other leaders in the Unity March against terrorism on Sunday 11 January at 3pm