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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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Poland

Driven by domestic demand, economic activity should gain strength in 2006 and 2007. Employment is projected to continue to grow and unemployment to fall. Productivity growth may also recover somewhat but not to the rates achieved earlier in the decade. Inflation is likely to increase but remain below the central bank’s target of 2½ per cent. With low inflation expected until 2007, monetary policy could be eased further. Despite a narrowing of the budget deficit in 2005, fiscal consolidation remains a key challenge. Structural reforms are needed to contain social spending, to enhance productivity gains and to ensure that they will be coupled with strong economic growth.

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