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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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Mexico

The broad-based expansion is expected to continue, with GDP growth around 4% in both 2006 and 2007 and employment in the formal sector expanding. Inflation is set to be on target and the current account deficit should remain close to 1% of GDP. In the context of uncertainty related to the 2006 elections, the government’s prudent macroeconomic policy has reduced the economy’s vulnerability to shocks. Faster growth of living standards requires a tax reform to finance development needs on a stable and predictable basis, while reducing distortions. Measures are also needed to improve the education system and the functioning of the labour market and to increase competition.

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