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productivity growth. While these reforms are needed, private pensions can also play a role inimproving retirement income for … savings for retirement. This note also addresses the challenges of the private, funded system and proposes policy … recommendations for increasing coverage, improving efficiency, and delivering sustainable retirement income in the payout phase. This …
Persistent link: https://www.econbiz.de/10012646631
This 2007 Article IV Consultation highlights that the economy of St. Vincent and the Grenadines is enjoying its second year of vigorous economic growth. Financial sector indicators have strengthened, but balance sheet vulnerabilities remain. Executive Directors have welcomed St. Vincent and the...
Persistent link: https://www.econbiz.de/10011243153
This 2007 Article IV Consultation highlights that the Norwegian economy is set to grow strongly in 2007 for the fourth consecutive year. This economic performance is underpinned by strong monetary and fiscal policy frameworks. External demand, both for petroleum products and other Norwegian...
Persistent link: https://www.econbiz.de/10011243240
Japan has a universal public pension system. Social security spending is a key fiscal policy challenge in Japan. The 2004 pension reforms have increased the ratio of the government subsidy to the basic pension benefit. Three reform measures are necessary to improve pension finances: an increase...
Persistent link: https://www.econbiz.de/10011245302
Domestic demand is expected to remain the engine of growth in France, with net exports playing a minor role in the near …
Persistent link: https://www.econbiz.de/10011243070
An externally driven economic recovery has continued gathering strength in 2010 in Luxembourg. Executive Directors welcomed this development and the authorities’ supportive fiscal policy in 2010 as well as their role in stabilizing the financial sector. According to the Financial Sector...
Persistent link: https://www.econbiz.de/10011244241
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...
Persistent link: https://www.econbiz.de/10011244379
The global crisis exacerbated the Slovenian economy’s previous imbalances in the fiscal, financial, and real sectors. The authorities agreed that fiscal consolidation including pension, health care, and financial management is essential for sustainable recovery. The Bank of Slovenia...
Persistent link: https://www.econbiz.de/10011245562
In March 1999, Poland implemented a systemic pension reform that involved the introduction of a multi-pillar pension system to replace the defined benefit (DB), pay-as-you-go (PAYG) system that had been operating since 1949. This technical note on the pension sector was elaborated as part of the...
Persistent link: https://www.econbiz.de/10012560020
This 2005 Article IV Consultation highlights that economic activity in Austria gathered speed in 2004, supported mostly by strong export performance. Growth of real GDP rose to 2.2 percent in 2004. Consumption growth was modest, in view of small gains in employment and nominal wage growth barely...
Persistent link: https://www.econbiz.de/10005824962