OECD Economic Outlook, Volume 2015 Issue 1
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OECD Economic Outlook, Volume 2015 Issue 1

The OECD Economic Outlook  is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country, a special chapter on investment and a statistical annex.

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Author(s):
OECD

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Growth is projected to remain robust at just below 3%, notwithstanding the shift in the EU VAT regime for e-commerce (which makes Luxembourg less attractive for certain export-oriented activities) and higher domestic VAT rates (introduced to partially offset the loss of revenue from e-commerce). Lower oil prices, a weaker euro and an ongoing recovery in the euro area will support exports and investment. The higher VAT will boost prices in 2015, and the backward-looking wage indexation could add to upward price pressures in 2016.

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