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2005 OECD Economic Outlook, Volume 2005 Issue 2

image of OECD Economic Outlook, Volume 2005 Issue 2
Twice a year, the OECD Economic Outlook analyses the major trends and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. The present issue covers the outlook to end-2007. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.  In addition to the themes featured regularly, this issue contains an analytical chapter addressing the recent run-up in house prices.

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Finland

Growth is expected to recover from 1¼ per cent in 2005 to average 3% over the next two years, in part reflecting a bounce back from the effects of a labour dispute in the paper industry. Net exports rather than consumption will become increasingly important for driving growth.

Job creation is likely to be less than half that required to hit the government’s employment target, while ageing will lead to a declining labour force and pressures to raise social security contributions. This underlines the importance of measures to reduce early retirement and motivate job search as well as to contain public spending pressures so that the overall tax burden can be reduced.

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