OECD joins with Japan to fight financial crime by establishing new academy

This article is brought to you in association with OECD. OECD Secretary-General Angel Gurría and Japan’s Minister of Finance Taro Aso presided today over a signing ceremony to establish a new centre of the OECD International Academy for Tax Crime Investigation in Wako, Japan. The signing, which took place in the margins of the meeting of […]

International community agrees on a road map for resolving the tax challenges arising from digitalisation of the economy

This article is brought to you in association with OECD. The international community has agreed on a road map for resolving the tax challenges arising from the digitalisation of the economy, and committed to continue working toward a consensus-based long-term solution by the end of 2020, the OECD announced today. The 129 members of the OECD/G20 […]

Latvian economy is thriving, but boosting productivity, improving social protection and transitioning to a low-carbon productive model are vital for sustainable and inclusive growth

This article is brought to you in association with OECD. The Latvian economy is thriving, with strong job growth driving convergence with more advanced economies. Efforts should now focus on reducing inequality, responding to the challenges posed by population ageing and making growth stronger, inclusive and greener, according to two new OECD reports. The latest OECD Economic […]

International trade statistics: trends in first quarter 2019

This article is brought to you in association with OECD. Growth in G20 international merchandise trade, seasonally adjusted and expressed in current US dollars, remained weak in the first quarter of 2019. G20 exports rose marginally by 0.4% quarter‑on‑quarter while imports fell by 1.2%. Compared to the third quarter of 2018, when the first round of new tariff measures affecting US-China trade […]

Forty-two countries adopt new OECD Principles on Artificial Intelligence

This article is brought to you in association with OECD. OECD and partner countries formally adopted the first set of intergovernmental policy guidelines on Artificial Intelligence (AI) today, agreeing to uphold international standards that aim to ensure AI systems are designed to be robust, safe, fair and trustworthy. The OECD’s 36 member countries, along with Argentina, […]

OECD warns global economy remains weak as subdued trade drags down growth

This article is brought to you in association with OECD. Global growth slowed sharply in late 2018 and is now stabilising at a moderate level. Escalating trade conflicts and dangerous financial vulnerabilities threaten a new weakening of activity by undermining investment and confidence worldwide, according to the OECD’s latest Economic Outlook. The global economy is expected to […]

SMEs are driving job growth, but need higher investment in skills, innovation and tech to boost wages and productivity

This article is brought to you in association with OECD. Small and medium-sized enterprises (SMEs) have been a significant driver of employment growth in recent years, mainly through the creation of new firms, including in high-growth sectors such as information and communication technologies (ICT). But the new OECD SME and Entrepreneurship Outlook highlights that most SME […]

Joint OECD and World Bank report urges governments to improve resilience to disasters and related fiscal risks

This article is brought to you in association with OECD. Rapid economic development and climate change are increasing our vulnerability to natural disasters, and a new joint OECD-World Bank report calls for pro-active management of the financial costs of those disasters before they strike. Released during the annual OECD Forum in Paris, Fiscal Resilience to Natural Disasters estimates that natural […]

Urgent action needed to address growing opioid crisis

This article is brought to you in association with OECD. Governments should treat the opioid epidemic as a public health crisis and improve treatment, care and support for people misusing opioids. Overdose deaths continue to rise, fuelled by an increase in prescription and over-prescription of opioids for pain management and the illicit drugs trade, according to […]

Italy should boost spending and strengthen cooperation and integration of employment services to help more people into work

Mr Giuseppe CONTE, Italian Prime Minister. Copyright: European Union Event: Special meeting of the European Council (Art. 50) This article is brought to you in association with OECD. Italy should boost spending and cooperation at national and regional levels as part of broader efforts to help more people into work and reduce the country’s high unemployment […]

Governments should step up their efforts to give people skills to seize opportunities in a digital world

This article is brought to you in association with OECD. Governments must urgently step up their efforts to improve their education and training policies to help more people reap the benefits of the digital transformation and to reduce the risk of automation widening inequalities and driving unemployment, according to a new OECD report. The OECD Skills Outlook […]

Mexico needs a new strategy to boost growth, fight poverty and improve well-being for all

This article is brought to you in association with OECD. The Mexican economy is expanding at a moderate pace, underpinned by a strong macroeconomic framework and robust exports tied to the country’s deep integration into global value chains. A new strategy is now needed to boost growth, reduce high levels of poverty and inequalities, and improve […]

Low productivity jobs continue to drive employment growth

This article is brought to you in association with OECD. Employment is rising in OECD countries but most jobs continue to be created in relatively low-productivity, low wage activities, says a new OECD report. The latest Compendium of Productivity Indicators says the trend has compounded the impact of generally weak business investment on productivity growth. The […]

Rapid action needed for people to meet challenges of changing world of work

This article is brought to you in association with OECD. Governments need to overhaul their approach to employment and jobs to reduce further social and economic tensions, according to a new report from the OECD. Without rapid action, many people, particularly the low skilled, will be left behind in the fast-changing world of work. The OECD […]

Peru should help more young vulnerable people into work

This article is brought to you in association with OECD. Peru’s remarkable economic growth since the 2000s and policies targeting the most vulnerable young people have helped boost the youth employment rate. Peru should now focus on improving job opportunities for low-skilled youth, young women and indigenous and Afro-Peruvian youth, according to a new OECD report. […]

SMEs turning to alternative financing instruments as growth slows in bank lending

This article is brought to you in association with OECD. Small and medium-sized enterprises (SMEs) are turning to non-bank financing sources at a faster pace than in the past, as bank lending to them has risen less than expected given today’s favourable credit conditions and business environment. Financing SMEs and Entrepreneurs 2019: An OECD Scoreboard finds that […]

Reforms in a few countries drive a decline in average OECD labour taxes

This article is brought to you in association with OECD. Income tax and social security contributions declined slightly for the average worker across the OECD in 2018, driven by major reforms in a handful of countries, according to a new OECD report. Taxing Wages 2019 shows that the “tax wedge” – total taxes on labour costs […]

Governments must act to help struggling middle class

This article is brought to you in association with OECD. Governments need to do more to support middle-class households who are struggling to maintain their economic weight and lifestyles as their stagnating incomes fail to keep up with the rising costs of housing and education, according to a new OECD report. Under Pressure: The Squeezed Middle […]

Further reforms in France can drive growth, improve public finances and boost social cohesion

This article is brought to you in association with OECD. The French economy has slowed, with weaker growth and employment prospects weighing on living standards and well-being. Policy should focus on long-term strategies to revitalise growth, improve public finances, create more and better jobs and ensure a more inclusive and cohesive society, according to a new […]

OECD Steel Committee concerned about excess capacity in steel sector

This article is brought to you in association with OECD. Low growth prospects for the global economy, slowing demand for steel and virtually unchanged steelmaking capacity are driving severe and persistent excess capacity in the steel sector, the OECD Steel Committee said at the end of its meeting this week. The Committee reiterated the need for […]

Portugal’s pension system needs to prepare for rapid population ageing

This article is brought to you in association with OECD. Portugal needs to reform its pensions system to address the challenges of a fast-shrinking workforce and high levels of old-age inequality, according to a new OECD report. The OECD Reviews of Pension Systems: Portugal says the country’s rapidly ageing population, a result of low fertility and […]

OECD survey reveals many people unhappy with public services and benefits

This article is brought to you in association with OECD. Many people in OECD countries believe public services and social benefits are inadequate and hard to reach. More than half say they do not receive their fair share of benefits given the taxes they pay, and two-thirds believe others get more than they deserve. Nearly three […]

Trade in fake goods is now 3.3% of world trade and rising

          This article is brought to you in association with OECD. Trade in counterfeit and pirated goods has risen steadily in the last few years – even as overall trade volumes stagnated – and now stands at 3.3% of global trade, according to a new report by the OECD and the EU’s Intellectual […]

Argentina’s agro-food sector is growing remarkably, but agriculture policies are not keeping pace

This article is brought to you in association with OECD. The Argentinian agro-food sector has grown remarkably over the past thirty years, driven by innovation, an abundance of young, well-educated farmers and strong international prices. While Argentina’s use of export taxes has raised much-needed revenue for the federal government, the policy has reduced gross farm revenues […]

Turkey’s foreign bribery enforcement framework needs to be urgently strengthened and corporate liability legislation reformed

This article is brought to you in association with OECD. In view of Turkey’s continued failure to implement key aspects of the OECD Anti-Bribery Convention and to enforce its foreign bribery laws, the Working Group on Bribery will send a high-level mission to Ankara in 2020, unless Turkey takes concrete action by October 2019. This decision […]

OECD will follow Canadian proceedings addressing allegations of political interference in foreign bribery prosecution

This article is brought to you in association with OECD. The OECD Working Group on Bribery is concerned by recent allegations of interference in the prosecution of SNC-Lavalin that are subject to proceedings in the House of Commons Standing Committee on Justice and Human Rights. The Canadian engineering and construction group is the subject of an […]

Italy should boost investment in training for the future of work

This article is brought to you in association with OECD. The government, business and workers in Italy will need to invest substantially more in training to prepare for the future world of work, according to a new OECD report. Adult Learning in Italy: what role for training funds? says that the skills needed by workers for […]

Progress on gender equality is too slow, says OECD on International Women’s Day

This article is brought to you in association with OECD. Governments around the world are paying more attention to gender equality but progress is too slow and uneven, and much remains to be done to increase women’s rights, opportunities and participation in public life and senior jobs, according to the OECD.   Despite gender equality reforms […]

OECD sees global growth slowing, as Europe weakens and risks persist

The global economy is slowing and major risks persist, with growth weakening much more than expected in Europe, according to the OECD’s latest Interim Economic Outlook.‌ Economic prospects are now weaker in nearly all G20 countries than previously anticipated. Vulnerabilities stemming from China and the weakening European economy, combined with a slowdown in trade and […]

Seize the opportunities of digital technology to improve well-being but also address the risks

This article is brought to you in association with OECD. Digital technology can improve our lives but it also poses a major risk of widening social inequality and blocking opportunities for people without the skills to navigate the online world safely, according to a new OECD report. A mix of technical, emotional and social skills is […]

Seize the opportunities of digital technology to improve well-being but also address the risks

Digital technology can improve our lives but it also poses a major risk of widening social inequality and blocking opportunities for people without the skills to navigate the online world safely, according to a new OECD report. A mix of technical, emotional and social skills is a pre-condition for people to combine their digital and […]

Risks rising in corporate debt market

This article is brought to you in association with OECD. Global outstanding debt in the form of corporate bonds issued by non-financial companies has hit record levels, reaching almost USD 13 trillion at the end of 2018. This is double the amount outstanding in real terms before the 2008 financial crisis, according to a new OECD […]

Portugal can use its economic recovery to build up resilience

This article is brought to you in association with OECD. Portugal’s economic recovery is now well established, with GDP back to pre-crisis levels, a substantially lower unemployment rate and renewed investment and domestic consumption now joining a robust export sector to drive the economy. Efforts should now focus on reducing vulnerabilities to build resilience to future […]