DEVELOPMENTS IN INDIVIDUAL OECD COUNTRIES AND SELECTED NON-MEMBER ECONOMIES

摘要

Economic growth is projected to recover to 3% in 2017. Ongoing decline in resource-sector investment will be offset by strengthening consumption, non-resource sector investment and exports. Consumer price inflation will increase gradually as the economic upswing gathers momentum and the labour market starts tightening. With prudential measures reducing downside risks from the housing boom, further monetary policy easing should be implemented in the event of a deepening downturn. The planned pace of fiscal consolidation is broadly appropriate but there is room for support if cyclical conditions deteriorate. Boosting productivity requires improved framework conditions, in particular through a further shift towards indirect taxes, and reforms that enhance inclusiveness, such as improved childcare provisions for working families.