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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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India

India’s long economic upswing has now ended, with GDP growth well below potential by late 2008. The government has recently introduced some limited fiscal measures, following a sizeable increase in public outlays in 2008. In 2009, falling exports are projected to offset continued expansion in domestic demand. With the gradual recovery of the global economy, growth is projected to pick up in 2010. 

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