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The OECD and the European Investment Bank have agreed to share their expertise in support of economic co-operation and sustainable development. OECD Secretary-General Angel Gurría and EIB President Philippe Maystadt signed a co-operation agreement to that effect today in Paris.
The recession is taking its toll on tax receipts across the OECD. Aggregate tax burdens in OECD economies, calculated as the ratio of tax revenues to gross domestic product, or GDP, were unchanged between 2006 and 2007, and then fell in 2008.
News conference to launch the OECD Development Centre’s latest Latin American Economic Outlook (LEO 2010).
The global economy is recovering faster than expected but remains fragile. How quickly will global trade and investment bounce back after the sharp falls of the past year? What role can international investment play in building a stronger, cleaner, fairer global economy?
Young Poles have been hit hard by the jobs crisis. To help them, a new OECD report on Poland says that the government should invest more in vocational training schemes, and temporarily cut the cost of employing low-skilled school-leavers.
The OECD is pleased to see the commitment being made by the UK government to the fight against foreign bribery,” Mr Gurría said.
Seasonally adjusted gross domestic product (GDP) in the OECD area rose by 0.8% in the third quarter of 2009, up from 0% in the previous quarter, according to preliminary estimates.
In the context of the economic crisis, reforms can become an effective vehicle for sustained recovery but governments must find the right balance between an effective regulatory and institutional framework and minimising unnecessary red tape. Moreover, governments cannot reset the economy on their own and the contribution of the women and the private sector will be crucial, according to the OECD Secretary-General.
Speaking at the governance forum of the third MENA-OECD ministerial meeting, Mr. Gurría noted that sound regulations and efficient public services are essential for better functioning private markets. He added that governments should ensure integrity, transparency and accountability by modernizing legal frameworks and encourage a more inclusive economy, an economy empowering women.
Opening this event in Marrakesh, Angel Gurría underlined that the economic crisis has not spared the MENA region, with a significant economic contraction and a severe impact on the labour markets. According to the Secretary-General, the MENA-OECD Initiative can serve as a model for effective co-operation in building the global economy of the future.