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These country notes contain over 50 indicators which compare the political and institutional frameworks of national governments as well as revenues and expenditures, employment, and compensation. They include a description of government policies on integrity, e-government and open government.
Recent reforms will still be insufficient to cover increased pension costs in the future, despite increases in retirement ages in half of OECD countries, according to a new OECD report.
After the political transition rates of obesity rose in the Russian Federation. Currently, half of the population is overweight, 1 in 4 women and one in 10 men are obese.
In February 2009 the Russian Federation formally applied to the OECD Secretary-General to accede to the OECD Anti-Bribery Convention and become a full participant in Working Group on Bribery. Consideration of that request will be undertaken by the Working Group following receipt of information from the Russian Federation.
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One of the major challenges faced by transitional economies has been to adjust institutions that were designed to function in a planning environment to function in an increasingly market-oriented environment. One of the most important of these institutional reforms has been the restructuring of the budget system. The latter should be interpreted quite widely to encompass the institutional framework as well as the administrative
The global crisis put an end to a decade of rapid growth. Russia needs to minimise the downturn and establish a sounder long-term growth model. Growth-friendly product market regulation and a more efficient and resilient banking system will be key.
After a decade of rapid growth, Russia has fallen into recession. The near term challenge is to limit the extent of the downturn, while beyond the crisis, a sounder growth model should be put in place.
Russia should aim for a gradual switch from a quasi-fixed exchange rate policy to inflation targeting. Not all conditions for adopting inflation targeting are yet in place, but preparations should be accelerated.
Despite improvements in some areas, many aspects of Russia’s regulatory framework are still restrictive and economic performance could be enhanced by bringing regulation into line with best practices.
The immediate challenge is to gauge the optimal amount and form of stimulus and support for banks, while safeguarding fiscal sustainability. Looking further ahead, tax reform can help raise potential growth rates.