Editorial by the Secretary‐General of the OECD
The debate on how to restore the health of public finances after the crisis remains at the forefront of policy agendas worldwide. Even prior to the crisis, the OECD area as a whole had been in deficit every year but one since the mid‐1970s, leading to a sharp increase in indebtedness. This heavy debt burden and the future increases in expenditure related to an ageing population will pose additional challenges to ensure that government debts are sustainable over the longer term.
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Document Type: Review Article
Publication date: 01 November 2012