After several years of modest growth, Brazil is facing a recession which has laid bare a number of structural bottlenecks that need be addressed to restore strong and sustainable growth. The most important include severe shortages in public infrastructure, low educational attainment, a complex and fragmented tax system, low integration into international trade due to significant trade barriers, and an under-developed financial system.
1. PISA is the Programme for International Student Assessment.
Source: OECD (2014), PISA 2012 Results: What Students Know and Can Do (Volume I, Revised edition, February 2014): Student Performance in Mathematics, Reading and Science, PISA.
Previous Going for Growth recommendations include:
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Recent policy actions in these areas include:
The report also discusses the possible impact of structural reforms on other policy objectives (fiscal consolidation, narrowing current account imbalances and reducing income inequality). In the case of Brazil, enhancing outcomes and equity in education would contribute to reduce income inequality. |
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