Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.
Sustainable supply chains can transform global trade and development by ensuring that businesses behave responsibly even in countries where social, environmental and human rights standards are weak or not adequately enforced. We have witnessed too often the disastrous consequences that can result if this is not done.
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This country note from Going for Growth 2015 for Germany identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
While past labour market reforms have been successful in terms of employment, the relative poverty risk and income inequality have remained broadly unchanged in recent years.
Twenty years ago climate change was viewed as just an environmental issue. Today it is squarely an economic issue. Climate change poses significant risks to our economic systems that could result in very large damages. To mitigate these risks we need to radically transform our economies and societies to stop global warming.
“Our experience has shown that reforms are usually enacted in times of crisis, as there may be no other option,” said OECD Secretary-General Angel Gurría during the Survey launch in Berlin. “However, reform processes should continue in good times. For Germany, this means that the country should act now to embark on a more inclusive and resilient growth path.”
Building on the success of past reforms, Germany should continue to further wellbeing by improving financial sector resilience, strengthening productivity in services and making economic growth more inclusive and green.
Germany’s current economic success offers a good platform for achieving sustainable and inclusive growth, but further reforms will be necessary over the medium and long term, according to the latest OECD Economic Survey of Germany.
Germany’s recent economic performance has been solid, with record low unemployment rates and sound fiscal position, which sets it apart from many European countries.
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In dieser Broschüre, die sich auf das Fachwissen und die Erfahrung der OECD-Mitgliedsländer stützt, werden wichtige Politikprioritäten zur Steigerung des Produktivitäts-wachstums und Verbesserung der sozialen Inklusion aufgezeigt.