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2008 OECD Economic Outlook, Interim Report March 2009

image of OECD Economic Outlook, Interim Report March 2009

This interim OECD Economic Outlook analyses the current crisis and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2010 for both OECD and major non‑OECD economies. A particular spotlight is put on fiscal policy in a special chapter entitled The Effectiveness and Scope of Fiscal Stimulus. It addresses the following issues: How  governments in OECD countries changed the stance of fiscal policy in response to the crisis and What is the scope for additional fiscal stimulus in OECD countries to cushion the recession and help the recovery.

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Brazil

GDP is expected to shrink by a small margin in 2009. Activity lost considerable momentum in the last quarter of 2008, dragged down by a fall in industrial production, but may be showing signs of bottoming out. Ongoing policy easing, coupled with improvement in credit conditions, will buttress the recovery towards year-end and in 2010.

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