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Brazil’s economic growth has been supported in recent years by important government investment and social programmes that mobilise resources across the country. These programmes could help Brazil to meet its goals of sustaining economic growth and fostering social development, while reducing regional disparities.
Brazil’s supreme audit institution – the Federal Court of Accounts (TCU) – has began a process to reform its audit of the Accounts of the President of the Republic to enhance transparency and accountability of federal budget execution.
In Latin American and Caribbean countries the population is growing faster than the world average, intensifying land use and increasing urbanisation. The region is also prone to the negative impact of climate change and natural disasters, putting further pressure on natural resources.
OECD countries are intensifying their fiscal consolidation efforts, introducing additional measures and extending the time horizon to implement them. Most have announced fiscal consolidation of more than 3% of GDP over the period 2009-15, according to the OECD’s Restoring Public Finances 2012.
G20 Finance Ministers have welcomed a new OECD/G20 framework designed to help governments develop financial strategies for disaster risk management.
Indonesia has improved its macro-economic and structural policies over the last 15 years. Its economy, with strong and stable growth rates of 5–6.6%, is catching up with other countries in the region and allowing Indonesia to focus on its development agenda.
Korea has weathered the shocks triggered by the global recession and its economy is recovering more quickly and vigorously than most other OECD countries.
The economic crisis has led to a surge in government deficits and pushed public indebtedness to 100% of GDP for the OECD as a whole in 2011. New research shows that bringing debt down to prudent levels will require sustained fiscal consolidation in most OECD countries.
Chicago is at a tipping point: despite economic strengths, it faces considerable challenges to compete in the “Premier League” of world-class cities, warns the OECD’s review of the Chicago Tri-State Metropolitan Region.
Cities are ready to lead efforts to green the economy, concluded participants of the OECD Roundtable of Mayors and Ministers meeting in Chicago on March 8th, 2012.