Investing in robust and inclusive growth

Angel Gurría

Secretary-General of the OECD

Nearly seven years have passed since Lehman Brothers collapsed in September 2008, marking the start of the worst financial and economic crisis in living memory. Although the worst is behind us and the global economy is gradually recovering, it is doing so at a much slower pace than in past cycles. Plenty of work and concerted effort will be needed to set us on a robust, inclusive growth path.

On the economic front, the hesitant recovery has yet to translate into more and better jobs. There are simply too many people unemployed, on precarious contracts or quitting the workforce. In addition, emerging markets have started to lose steam, dampening world trade and investment. None of this helps prospects in developing countries and makes it harder for all of us to address urgent challenges, such as climate change, rising inequalities, disease and poverty.

Low interest rates, cheaper oil prices and more favourable exchange rates may bring some relief, particularly in Europe, but a pickup in the headline numbers should not give room to complacency. People expect more than a temporary fix, and rightly demand a clear path to a brighter future.

©OECD Yearbook 2015

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OECD Yearbook 2015

OECD Forum 2015