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.
Germany is achieving good labour market outcomes and the recently introduced minimum wage has improved the situation of low wage earners. Main challenges are subdued investment, population ageing as well as the employability of refugees. Strengthening entrepreneurship and competition would boost investment. Policies could do more to help parents to reconcile professional and family obligations.
Germany is in a solid economic position, but ageing and technological change require new investments in people to ensure a stronger and more inclusive society, according to the latest OECD Economic Survey of Germany.
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There are 37 faculties of medicine in Germany offering medical education, including a private university. Admission to medical studies remains highly competitive. In 2011, 37,400 students applied but only 9,432 students were admitted (roughly one out of four).
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In Germany, there are two main categories of nurses, first level and second level. A majority of first level nurses are trained through a 3-year vocational training programme involving hospital-based training, and these nurses can go on to pursue further education and training to specialise within the hospital setting.
The tourism industry in OECD countries continues to grow strongly despite economic weakness in advanced economies, and outperformed tourism globally in 2014. However, active, innovative and integrated policies are needed to ensure that tourism remains a competitive and sustainable sector, says OECD.
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.
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In 2012, 18% of students in Germany were low performers in mathematics (OECD average: 23%), 14% were low performers in reading (OECD average: 18%), 12% were low performers in science (OECD average: 18%), and 9% were low performers in all three of these subjects (OECD average: 12%).
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.”