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Germany recovered rapidly from the 2008-09 recession, with GDP topping pre-crisis rates during 2011 and unemployment falling significantly. Public finances are sound, but further reforms are needed to transform its growth model to thrive as a knowledge-based economy, says Angel Gurría.
Liberalization in the services sector would bring benefits to Germany and to the euro area. It would boost investment and therefore growth in Germany, said A. Gurría.
Speaking at a conference in Berlin, Angel Gurría says that a new architecture of financial reform together with sustainable fiscal consolidation strategies, structural reforms and efforts to explore new sources of growth will be essential to build a stronger, cleaner and fairer world economy.
Faced with unprecedented levels of unemployment, unsustainable fiscal deficits and public debt and weak economic growth, governments need to focus on innovation and pro-green policies as potential new sources of growth, says OECD Secretary-General Angel Gurría.
Angel Gurría provides an overview of labour market conditions in OECD countries and explains why large fiscal deficits complicate the policy options even further. He also describes what governments should do to promote a job-rich recovery that benefits all workforce groups, including the most vulnerable.
Eine auf Innovation, Bildung und mehr Wettbewerb im Binnenmarkt gestützte Wirtschaftspolitik kann Deutschland zu einer stärkeren und ausgeglicheneren Wirtschaft führen. Die Arbeitsmarktpolitik sollte nun den Weg für nötige Strukturanpassungen bereiten, die Fiskalpolitik braucht eine spezifische Exit-Strategie und muss sich in den kommenden Jahren auf die Konsolidierung der öffentlichen Haushalte konzentrieren.
The German job market has weathered the crisis well, said OECD Secretary-General Angel Gurría. Presenting the Economic Survey of Germany in Berlin, he said structural reforms were needed to ensure the sustainability of public finances and of long term growth. Stimulating domestic investment would help reduce the current account surplus, he added.
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Grundsatzbeitrag der deutschen Bundesministerin für Ernährung, Landwirtschaft und Verbraucherschutz Ilse Aigner zur OECD Agrarministerkonferenz 2010
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English version of speech by Ms Ilse Aigner, Federal Minister of Food, Agriculture and Consumer Protection, Germany, to the OECD Agriculture Ministerial Meeting 2010
Given the crisis, the global governance architecture is moving faster than anticipated and the need for International Organisations to work together has increased. How can we help the international organisations become stronger, more inclusive and agile?