Oecd Economic Surveys Portugal 2019

Portugal’s economic recovery is now well established, with GDP back to its pre-crisis level. However, legacies of the recent crisis remain. A high public debt burden and ongoing financial sector vulnerabilities make the economy less resilient. The country is also facing a rapidly ageing ...

The French economy rebounded quickly following the COVID-19 crisis, in particular thanks to the acceleration of the vaccination campaign and strong public support measures. Rapid and effective implementation of the recovery and investment plans would help support stronger and more sustainable growth.

The Portuguese economy has rebounded strongly from the COVID-19 crisis. Though high inflation and weak global economic conditions have slowed growth in 2022, renewed fiscal support helped to cushion the impact. Public debt relative to GDP has declined below its 2019 level, but rapid population ageing and strong investment needs are increasing fiscal pressures.

Mexico’s robust macroeconomic policy framework has supported moderate growth despite several headwinds in recent years. However, low productivity growth has hindered Mexico’s convergence to higher-income OECD countries and inequalities remain high. These factors call for a renewed strategy to boost productivity and inclusiveness.

Japan’s current economic expansion is its longest of the post-war era, with per capita output growth nearly matching the OECD area since 2012. However, the expansion has peaked and global uncertainties weigh on the outlook. Growth is projected to continue at a moderate rate, supported by expansionary monetary policies and fiscal measures to offset the 2019 consumption tax rate hike.

India has been a growth champion in recent years and has succeeded in taming inflation, the current account deficit and non-performing loans. India's participation in the global economy has risen, with outstanding performances in some services, while the largest diaspora in the world is an asset in developing new markets. India has also lifted many millions of people out of poverty and has made access to housing for all a priority. Ambitious structural reforms -- including better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code, the new approach to federalism and the corporate income tax reform -- have played a key role.

The 2010 edition of OECD's periodic survey of the Portuguese economy. This edition includes chapters covering rebalancing the economy towards growth, moving towards a more efficient tax system and restoring productivity growth.