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Economic Policy Reforms 2019

Going for Growth

image of Economic Policy Reforms 2019

The Going for Growth report, updated biennially, looks at structural reforms in policy areas that have been identified as priorities to boost incomes in OECD countries and selected non-OECD economies (Argentina, Brazil, the People’s Republic of China, Colombia, Costa Rica, India, Indonesia, the Russian Federation and South Africa). The selection of priorities and monitoring of reform actions are supported by internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas. In addition to detailed policy recommendations to address the priorities, as well as a follow-up on actions taken in the recent years, the report includes individual country notes and, since 2017, a focus on inclusive growth. The 2019 report also includes a special chapter on reform packages that boost growth while ensuring environmental sustainability, a new extension of the Going for Growth framework.

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Iceland

GDP per capita is among the highest in the OECD, having recently surpassed pre-crisis levels. Growth has been driven by high employment growth and increasing labour force participation, while labour productivity is lagging and competitiveness is declining.

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