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At a meeting with Slovak Economists, Mr. Gurría underlined that the OECD has developed a strategic response to deal with the current situation, while at the same time addressing the interaction between different policy actions in our economies.
M. Gurría stated that the main policy challenge for the Slovak Republic is to sustain high trend growth while adjusting to life in the euro area. This requires structural reforms in the areas of labour and product markets, fiscal policy and in the housing sector.
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?
On the occasion of his official visit, Angel Gurría launched the Economic survey of Slovakia and met the President of the Slovak Republic, Mr. Ivan Gašparovič, and several government officials.
Joint press release by Chancellor Angela Merkel, OECD, WTO, ILO, IMF and World Bank on the occasion of their meeting on 5 February 2009 in Berlin.
OECD’s latest economic survey of the Slovak Republic, to be published on Monday 9 February 2009, looks at such challenges as the adoption of the euro and the impact of the global slowdown. It discusses how increasing flexibility would strengthen sustainable economic growth.
The current crisis offers governments the opportunity of combining emergency action with the important structural reforms needed to improve long-term growth and resilience in their economies, according to OECD’s latest Going for Growth.
At the World Economic Forum in Davos, Mr. Gurría presented the OECD strategic response to the financial and economic crisis which provides elements and analytical tools to help governments redesign and restart the financial system, but also a comprehensive strategy to put the global economy back on a sustained growth trajectory.
Since September, the global economic downturn has grabbed public and government attention but the food crisis has not disappeared with the recession and falling commodity prices and remains a priority, according to Mr. Gurría.
Policy makers are now facing the challenge of providing a short-term response to the crisis without losing sight of the longer-term structural reforms needed to put pension and healthcare systems on a solid footing in light of population ageing. According to Mr. Gurría, we need pension funds to be more transparent and better regulated but we also need structural reforms in the public pension policies and health care systems.