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Norway’s economy has continued to prosper, but the financial system needs to be resilient against possible systemic risk, and a vibrant entrepreneurial culture will be important to maintain sustainable growth in the future.
The Norwegian economy is performing well, generating inclusive growth, strong social mobility and low unemployment. But to ensure future prosperity, Norway must continue with growth-enhancing reforms while ensuring financial stability, according to the OECD’s latest Economic Survey of Norway.
Finland’s economy is gradually picking up, but uncertainty surrounds the recovery. Determined action to implement structural reforms is needed to revive economic growth, restore competitiveness and preserve high standards of living and well-being, according to the OECD’s latest Economic Survey of Finland.
Finland has been hit hard by the global crisis, mainly through a sharp fall in exports, and the recovery is still hesitant. Bold action is needed to find new sources of growth, regain competitiveness, ensure sound public finances, and preserve the Finnish welfare model, Mr Gurría said.
Hungary exited recession in 2013, but growth potential remains held back by weak investment, low employment among low-skilled workers and shortcomings in labour and product markets. These factors also weigh on social indicators.
The OECD’s latest Economic Survey of Hungary, to be published on Monday 27 January 2014, assesses the country’s exit from recession as well as steps that can be taken to boost its growth potential.
The Russian Federation’s economy is growing, but further reforms are needed to bolster future growth, improve the business climate and strengthen innovation, according to the OECD.
Despite the slowdown of the world economy, Russia has continued to grow. Most importantly, your macroeconomic house is basically in order, with inflation largely under control, public finances close to balance, and a current account surplus. But growth must become sustainable and fair through the implementation of the right policy mix, said OECD Secretary-General.
The OECD will launch its latest Economic Survey of the Russian Federation in Moscow on Wednesday 15 January 2014 during the annual Gaidar Forum.