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The differential between the interest rate paid to service government debt and the growth rate of the economy is a key concept in assessing fiscal sustainability.
The Czech fiscal position is generally sound and policy making is prudent. However, the fiscal framework was not strong enough to contain spending in the upturn and it would benefit from independent budget oversight.
The management of government debt and assets has important implications for fiscal positions.
This report considers why ministers use the services of advisors, how they are appointed, the special status they enjoy, the concerns they have prompted in the general public, and how reform may make them more accountable and improve the transparency of their status.
Civil service systems are at public management’s core; hence they are central to governmental effectiveness. In the current context, countries need to ensure that the public workforce is motivated and committed to delivery, despite the need for pay restraints and redundancies.
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances.
Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act.
In the current difficult economic environment, regions are important centres of gravity in a country’s economy. Their comparative advantages, endowments and overall dynamism can be powerful sources of growth and prosperity nation-wide, said OECD Secretary-General.
This publication highlights the central role of regions and regional policies in generating an employment recovery and realising the innovation potential of OECD economies.
This Review of the Gauteng City-Region, South Africa evaluates measures to position economic development policy and to confront economic inequality in the Johannesburg/Pretoria region.