Natural hazards can lead to costly disasters, which is why public authorities must work hard to reduce risks and to be prepared financially. What can governments do to strengthen their fiscal resilience?

After four years of disappointing growth, economic activity picked up in 2016. It has been supported by a fiscal reform that boosted household disposable income, a catch-up of investment and solid job creation, especially among elderly, women and immigrants. These factors will continue to support growth in 2017 and, to a lesser extent, in 2018.