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Economic surveys and country surveillance

OECD Economic Surveys are periodic reviews of member and non-member economies. Reviews of member and some non-member economies are on a two-year cycle; other selected non-member economies are also reviewed from time to time. Each Economic Survey provides a comprehensive analysis of economic developments, with chapters covering key economic challenges and policy recommendations addressing these challenges.

Greece Economic Survey 2023

Greece has rebounded well from the COVID-19 crisis, generating strong employment growth. Increasing investments and exports, government support measures, implementation of the Greece 2.0 Recovery and Resilience Package and the reforms of the past decade have been supporting the economy. However, headwinds from surging energy prices and uncertainty following Russia’s war of aggression against Ukraine have slowed the recovery.

© Vivooo/Shutterstock

Greece Economic Survey 2023

Finland Economic Survey 2022

Russia’s war of aggression against Ukraine has darkened the short-term economic outlook for Finland and increased the urgency of transitioning away from fossil energy. The Finnish economy is likely to contract over coming quarters, weighed down by high inflation, tightening monetary conditions and curtailment of Russian gas supplies to trading partner economies, but to recover in 2024 as these headwinds pass.

© Vincent Koen

Finland Economic Snapshot

Ireland Economic Survey 2022

The Irish economy weathered the COVID-19 pandemic and is coping well with the repercussions from Russia’s war of aggression against Ukraine. While the fiscal position is currently strong, with buoyant revenues, a number of pressures arising from ageing, housing, health, and climate change create fiscal risks in the longer term.

© Vincent Koen

Ireland Economic Snapshot

Useful links

EDRC Bureau Members

 

 

Chilean delegation

Svein Gjedrem

EDRC Chairman

Ota Melcher, Czech Republic

Vice-Chair

Johanna Modigsson, Sweden

Vice-Chair

 Hélène Durocher, Canada

 Bureau member

 

Marcelo Soto, Chile

Bureau member

   ‌  

Henrik Thomasen, Denmark

Bureau member

Cécile Mahé, France

 Bureau member

 

 Simon Mcloughlin, New Zealand 

 Bureau member

Marte Sollie, Norway

Bureau member

 

Economics Department: Country Studies Branch

Isabell Koske

Acting Director

Tel: +33 1 45 24 17 92

isabell.koske@oecd.org

Vincent Koen

Acting Deputy Director

Tel: +33 1 45 24 87 79

vincent.koen@oecd.org

Muge Adalet Mcgowan

Acting Head of Division

FinlandIcelandIrelandJapanKoreaNew ZealandNorwaySweden

Tel: +33 1 45 24 87 79

muge.adaletmcgowan@oecd.org

Sebastian Barnes

Head of Division

AustraliaBulgariaChinaDenmarkEstoniaItaly
LuxembourgPolandUnited States.

Tel: +(33-1) 45 24 94 21

sebastian.barnes@oecd.org

Jens Arnold

Head of Division

Argentina, BrazilFranceHungary
LithuaniaPortugalSouth Africa, South East Asia

Tel: +33 1 45 24 87 22

jens.arnold@oecd.org

Aida Caldera Sánchez

Head of Division

ChileColombiaCosta RicaMexico
Netherlands, Peru, SpainUnited Kingdom

Tel: +33 1 45 24 15 67

aida.calderasanchez@oecd.org

Mame Fatou Diagne

Isabelle Joumard

Head of Division

AustriaBelgiumCanada, Croatia, Greece
IndiaIndonesiaRomaniaTunisiaTürkiye

Tel: + 33 1 45 24 90 97

isabelle.joumard@oecd.org

About Economic Surveys and the Economic and Development Review Committee (EDRC)

 

What is the role of the EDRC?

The Economic Surveys and the work of the Economic and Development Review Committee (EDRC) have evolved since the creation of the OECD in 1961 when the Surveys focused on short-term macroeconomic developments. Currently, the focus is mostly on policies having a potential to improve the economy’s long-run performance and people’s living standards. This involves a wide range of policy areas including labour markets, competition, innovation, human capital, financial markets, sustainable development, environmental policies, social security, corruption, taxation, health care and public spending. The hallmark of Economic Surveys is to clarify links between structural policies in these areas and macroeconomic performance.

The committee has one member from each OECD country plus the European Commission, and the final Survey reflects the OECD countries’ joint conclusions, being published under the responsibility of the whole committee. Two EDRC members lead each examination and often draw in experts from their governments or Delegations. The examined country is represented by a delegation of high-level officials from across government departments.

What are the key features of an Economic Survey?

Each Economic Survey starts with an  Executive Summary and Key Recommendations followed by the  Key Policy Insights and 1 or 2  in-depth thematic chapters. The purpose of the Executive Summary is to summarise the overall analysis underpinning the key recommendations. The objective of the key recommendations is to provide the examined country with a clear set of constructive actions to improve their economy, based on robust analytical evidence. The Key Policy Insights then build/establish the strategic and analytical links between the various key macroeconomic and structural topics. Lastly, the in-depth thematic chapter(s) provide detailed discussion on selected structural topics.

How is the Economic Survey prepared?

The draft Economic Survey is prepared by the OECD secretariat starting about one year before the final Survey is published. The work is carried out by a team consisting generally of two economists, one statistician and one assistant, in co-operation with additional specialists, and supervised by a head of division. The desk interacts with the cross-country analysis undertaken by the Economics Department and other parts of the OECD. This ensures that the Economic Surveys present state-of-the-art policy analysis on a wide range of topics. At an early stage, the team from the OECD secretariat visits the country on structural mission and meets with a wide range of government officials, academics, social partners and other experts to collect information. Later on, the same team but now headed by a senior ECO official goes on the policy mission to discuss the secretariat’s tentative conclusions with top policy makers, such as the Minister of Finance, top government officials, the central bank and also labour unions and business confederations.

How often is an Economic Survey published?

An Economic Survey is published every 18-24 months for each OECD member country and for key partner countries such as Brazil, China, India, Indonesia, and South Africa. There are also Surveys of the European Union and the Euro Area. Other countries Surveys are published on a one-off basis for countries such as Bulgaria, Romania, Tunisia and South East Asian countries - Thailand, Malaysia and Vietnam.‌

How is the Survey launched?

Once the draft Economic Survey has gone through the EDRC meeting and incorporated the views expressed during the examination it is ready for publication. Usually the public release takes place about 6 to 8 weeks after the EDRC meeting. The Survey is most often released by the Secretary General, the Chief Economist or a Director at a public press event in the member country. At this event, the Survey’s key policy recommendations are presented to key stakeholders including top government officials, journalists and academics. The Secretary General, the Chief Economist or the Director also meet with top government officials on a bilateral basis to discuss the insights from the Survey. Sometimes after the public press event, a technical seminar is held by the Secretariat to present the Survey’s findings in more detail. On the day of the release, an OECD webpage with a link to the Economic Survey and related material will be available.

What is the role of the EDRC Bureau and extended bureau?

The EDRC bureau consists of the EDRC Chair and the two Vice Chairs while the extended bureau consists of the bureau and six additional committee members. The members of the bureau and extended bureau are elected annually. The bureau and extended bureau meets to discuss the ongoing business of the Committee and to prepare proposals for the EDRC. Usually meetings takes place a couple of times per year.

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