Output growth is projected to pick up further in line with the recovery in world trade, reaching a rate of 4.5% by late 2010.
As the economy strengthens, the growth of government spending should be scaled back to bring the budget back into balance, while pursuing tax reform to create a more growth-friendly system. The authorities should ensure that the negative impact of corporate restructuring on the financial sector remains limited, while pursuing structural reforms to sustain growth over the medium term.
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©OECD Observer No 274, July 2009