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The unemployment rate among young people has reached painfully high levels, in particular among those young people with low levels of education.
Spain’s enforcement of its foreign bribery laws has been extremely low, with not a single prosecution out of only seven investigations in 13 years since joining the OECD Anti-Bribery Convention. Spain must vigorously pursue foreign bribery allegations and strengthen its legal framework for fighting bribery by addressing gaps in its Penal Code, says a new OECD report.
Spain is immersed in a prolonged recession that has been compounded by the continuing crisis in the euro area. The path to recovery has been launched, but will require full implementation of reforms and some additional measures to restore confidence in the financial sector, redress public finances and bring down high unemployment, according to the OECD’s latest Economic Survey of Spain.
Secretary-General Angel Gurría will be in Madrid on Thursday, 29 November 2012 to present the 2012 OECD Economic Survey of Spain.
OECD Secretary-General Angel Gurría welcomes the Spanish government's budget and the economic policy measures announced yesterday.
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Virtually all three-year-olds in Spain are enrolled in school, most of them in public institutions. Spain’s expenditure on pre-primary education (for public institutions) amounts to 0.9% of GDP, compared to the OECD average of 0.5% of the combined GDP.
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Education at a Glance 2012: Country Notes - Spain
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Despite some decline in the number of registered unemployed in June, high levels of unemployment in Spain are set to persist in the short-run, given its weak economic growth prospects.
The Spanish economy experienced significantly weaker labour productivity growth than other OECD economies and failed to catch up with the most advanced economies in the period 1996-2007. In recent years labour productivity growth has accelerated, but this recovery is likely to be due to cyclical and temporary factors.
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Total health spending accounted for 9.6% of GDP in Spain in 2009, slightly higher than the OECD average (9.5%).