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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.
Small and medium-sized businesses are engines of economic growth, but access to finance remains one of the biggest challenges for their development and often their survival.
The euro area unemployment rate rose by 0.1 percentage point (for the eighth consecutive month) to 10.8% in February, maintaining a record high since the start of the global financial crisis.
Composite leading indicators (CLIs) continue to point to a positive change in momentum in the OECD as a whole but with some divergence between major economies.
Middle Eastern and North African countries should reform the governance of their state-owned enterprises to bring about greater public accountability and improve their efficiency, according to a new OECD report.
Sluggish demand slows OECD GDP growth in the fourth quarter of 2011
The Global Forum on Transparency and Exchange of Information for Tax Purposes has just completed peer reviews of 11 jurisdictions. This brings to 70 the number of peer review reports completed since March 2010.
To reduce corruption and restore confidence in public institutions in the wake of the Arab Spring, governments in the Middle East and North Africa should improve the management and oversight of state-owned enterprises, which often play a major role in their economies.
Major donors’ aid to developing countries fell by nearly 3% in 2011, breaking a long trend of annual increases. Disregarding years of exceptional debt relief, this was the first drop since 1997.
OECD area annual inflation was stable at 2.8% in the year to February, with diverging and offsetting movements in energy and food price inflation.