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News & Events
News
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12-Dec-2011
A critical factor undermining the business climate is corruption, which various indicators confirm to be a serious burden on business in Russia. Transparency International’s Corruption Perception Index suggests that Russia is perceived to be more corrupt by far than any OECD country, and is both the most corrupt BRIICS country and the most corrupt country in Europe.
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12-Dec-2011
Global financial turmoil, centred on the euro zone, has affected Russia’s financial markets and driven increased capital outflows, but with the oil price remaining high, the OECD’s projection remains one in which annual growth over the next two years is close to potential of around 4%.
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12-Dec-2011
The Russian economy is being modernised and per capita incomes are converging towards OECD levels, but the pace of catch-up could be increased up with determined efforts to raise energy efficiency and improve the business climate, especially via reduced corruption and strengthened rule of law.
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18-Nov-2011
The post-crisis recovery in the Czech Republic is moderate. More rapid real convergence is dependent on the transition to a more innovative, skill based and more energy efficient economy. Enhancing efficiency of public sector spending and providing incentives for better use of energy would be essential
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26-Oct-2011
Brazil’s economic and social progress has been remarkable. A key macroeconomic challenge will be to damp inflation in a context of abundant global liquidity, and removing obstacles to investment will be crucial to sustaining strong economic growth. Faster infrastructure development would help to achieve better economic and social performance.
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26-Oct-2011
Driven by both structural factors and international financial conditions, the Brazilian real has steadily appreciated since 2003, except during the 2008 financial crisis and more recently when a flight from risk in the midst of financial-market turbulence weakened it. Inflation pressures have emerged.
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26-Oct-2011
Brazil should rely more prominently on fiscal consolidation. The spending cuts announced earlier this year and the setting of primary surplus targets for the next three years in levels consistent with public debt reduction are welcome and the government should continue in this direction.
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26-Oct-2011
Parametric reforms to the pension system could restore its sustainability. Reduced expected pension benefits could also encourage people to save more during their working lives.
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26-Oct-2011
Approval of the federal government’s proposals to simplify the tax system would also strengthen investment incentives.
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26-Oct-2011
The Brazilian government should follow through with a proposed reform package to unify states’ rate of VAT. Further improvements could be achieved by combining existing VATs with municipal taxes on selected services, the tax on industrial products and various federal contributions into a single value added tax
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