Structural reforms pave the way to strong and sustainable growth: OECD

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Sydney, Australia, february 25th, 2014.- The Organisation for Economic Cooperation and Development (OECD) has stated that dopting ambitious and comprehensive structural reform agendas will offer governments the best chance for a return to strong, sustainable and balanced economic growth that creates jobs and reduces inequality, according to the latest Going for Growth report. The said report was presented during the G20 Finance Ministers meeting.

 

According to the report, Mexico resisted well the crisis and its GDP per capita showed a bigger growth from 2006 to 2012 than the 5 previous years. However, different obstacles have yet to be overcomed in order to maintain solid growth rates and close the gap of the income copared to that of the developed countries.

 

Among the obstacles there is the lack of infrastructure, the government control in business activities and the unequal access to quality education. It is also necessary to achieve a better balance in the social protection that boost the employment within formal sectors.

 

The Going for Growth framework builds on OECD expertise on structural policy reforms and economic performance to provide policymakers with concrete reform recommendations to boost growth. Five policy priorities have been identified for each member country, based on their ability to improve long-term material living standards through higher productivity and employment.

 

Mexican Business Web via OECD

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