Domestic demand is expected to remain the engine of growth in France, with net exports playing a minor role in the near term. Risks to the outlook are tilted to the downside. Boosting potential growth requires a comprehensive strategy. The consolidation targets set out in France’s...

This Selected Issues paper on Luxembourg reports that exemplary high growth rates and prudent fiscal policies provided the financial basis for the welfare system. Social expenditures in per capita terms, even adjusted for the large number of cross-border workers, rank highest among European...

This Selected Issues paper for Indonesia reports that following the major cleanup of the banking sector after the crisis, banks’ performance has improved as net interest margins and profitability have increased. Public and external debt ratios have declined and international reserves have...

Important issues of the Netherlands are discussed. Openness to trade has benefited the Netherlands before the crisis and has supported the recent recovery process. However, both financial openness and trade linkages have also been a transmission channel for the financial crisis. Synchronized...

This Selected Issues Paper focuses on structural reforms and fiscal devaluation in Italy. Italy’s economy has a number of important strengths. Despite these strengths, Italy’s economic performance has lagged behind its peers. The authorities’ reform plans are under way in...

This Selected Issues paper analyzes unemployment and education in Namibia. Using the Afrobarometer Project survey data, the paper develops some stylized facts about the Namibian labor market, focusing on the link between education, earnings, and unemployment. The paper finds that unemployment...

This 2012 Article IV Consultation highlights that economic growth in Luxembourg slowed in 2011 amid the euro area sovereign debt crisis. Reflecting sluggish external demand, economic activity is expected to further weaken, with growth projected to decline to ½ percent in 2012. Executive...