OECD Economic Outlook, Volume 2010 Issue 2
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OECD Economic Outlook, Volume 2010 Issue 2

The OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2012 for both OECD countries and selected non-OECD economies. Together with a wide range of cross-country statistics, the Outlook provides a unique resource to keep abreast of world economic developments.

In addition to the themes featured regularly, this issue contains a special chapter entitled "Fiscal consolidation: Requirements, timing, instruments and institutional arrangements. It addresses the following questions: How much budget consolidation is required in individual OECD countries to stabilise the ratio of government debt to GDP and what are the requirements to bring gross debt ratios to 60% of GDP? What factors should determine the appropriate speed of consolidation? What instruments should be employed for consolidation and what kind of public spending should be cut and what kind of taxes should be raised? What fiscal rules and institutions are most likely to foster consolidation?

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Publication Date :
07 Dec 2010
DOI :
10.1787/eco_outlook-v2010-2-en
 
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Author(s):
OECD
Pages :
141–143
DOI :
10.1787/eco_outlook-v2010-2-21-en

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After the deep recession of the past two years, Iceland is making progress towards unwinding its economic imbalances and laying the foundations for durable economic growth. The recovery is projected to get underway in the second half of 2011, led by planned privately-driven investment in large energy projects and strengthening private consumption expenditure. Inflation is projected to fall below the 2½ per cent target of monetary policy.
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