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The article entitled "The Long View: Scenarios for the World Economy to 2060".
Another area on which it would be worthwhile for Israel to focus, according to the OECD , is public investment in infrastructure. Here too, Israel stands to gain more GDP than 2060 through appropriate investment
OECD
These figures for potential GDP gains are higher than any other country except Turkey (24%). The OECD's recommendation represents the backing of the Ministry of Finance and the Ministry of Finance and the Ministry of Finance.
High growth potential is only one side of the coin, the other side being the current situation in the world. Public investment in infrastructure in Israel is less than 2% of GDP, which compares with 6% in the leading countries in the OECD in this respect: Hungary, Norway, Luxembourg, Slovenia, and New Zealand.
The OECD paper badyzes various scenarios for long-term growth and examines how to be affected by various elements. Unsurprising, it is important to understand the importance of growth in the workforce, raising employment levels and increasing capital per worker. The report focuses on the importance of investing in the economy and the economy, particularly in developing countries and the BRIIC countries (Brazil, Russia, India, Indonesia, and China).
The OECD expects Israel's GDP to grow by a cumulative 85% by 2060, which is impressive but still significant under the growth rates of the developing countries. The country expected to achieve the most dramatic growth is India, which will expand by 160% by 2060 according to the report. The Chinese economy is seen growing by 130%, which will establish it as the largest economy in the world, ahead of the US economy, which will grow by just 60% according to the OECD's projections. The global economy as a whole is expected to grow by a cumulative 120%, which is more than the rate of growth projected for Israel.
Under the baseline scenario presented by the OECD capita in Israel, currently at 1.8%, rises to 2.2% in the period 2018-2030, and falls back to 1.9% in the period 2030-2060. Turkey (2.5%), Iceland (2.2%), and Ireland (2.1%) are among the highest growth rates in the world. The average annual growth rate in the OECD and the euro bloc is 1.7%. The expected increase in the standard of living in Turkey by citizens of the United States by 2060.
According to the OECD report, Luxembourg, Norway and Ireland will have the highest standards of living in 2060, widening the gap they have already opened up with the US. The standard of living in Ireland, for example, will be 60% higher than that in the US, compared with 20% higher today.
Published by Globes [online]Israel business news – www.globes-online .com – on July 15, 2018
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