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2006 OECD Economic Outlook, Volume 2006 Issue 1

image of OECD Economic Outlook, Volume 2006 Issue 1
OECD's twice-yearly assessment of the major economic trends and policies in member countries and selected non-members. This issue covers the outlook to the end of 2007.  Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments. This issue also contains a special chapter on Future Budget Pressures Arising from Spending on Health and Long-Term Care.

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Brazil

Economic growth disappointed in 2005, but recovery is now under way, underpinned by resilient private consumption and strong net exports. Investment is set to bounce back. Disinflation is ongoing. External vulnerability indicators have improved markedly, and the trade and current account balances continue to post robust surpluses. The policy mix remains tilted towards monetary restraint, despite the steady decline in interest rates. The consolidated primary budget surplus target is likely to be met, but the fiscal stance will become expansionary in 2006. There is growing concern that further reform is needed to arrest the increase in current expenditure commitments.

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